Corpay price target raised to $350 from $295 at Jefferies

Jefferies analyst Trevor Williams raised the firm’s price target on Corpay to $350 from $295 and keeps a Buy rating on the shares. The quarter should be relatively straightforward after Corpay previewed Q2 at the mid-points and despite a belief that the fiscal year organic guidance needs another cut and Q3 estimates likely go lower, Corpay is emerging as an attractive story whose growth should accelerate in the second half and further in 2025, the analyst tells investors in an earnings preview.