Corpay price target raised to $350 from $325 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Corpay (CPAY) to $350 from $325 and keeps an Equal Weight rating on the shares. Given recent multiple expansion on flat revisions, the bar for acceleration in Q4 and 2025 “remains high,” but the firm sees room for further multiple expansion to the extent execution “remains clean,” the analyst tells investors.