Corpay price target raised to $325 from $275 at Morgan Stanley

Morgan Stanley analyst James Faucette raised the firm’s price target on Corpay (CPAY) to $325 from $275 and keeps an Equal Weight rating on the shares. The magnitude of Q4 organic acceleration and CEO compensation adjustments were “likely the key drivers of share price softness” following the Q3 pre-announcement, says the analyst, who still believes mid-teens EPS growth is “in play next year while the multiple remains undemanding.”