Corpay price target raised to $353 from $327 at JPMorgan

JPMorgan raised the firm’s price target on Corpay to $353 from $327 and keeps an Overweight rating on the shares. The firm reviewed the year-to-date performance of the payments, processing, and fintech group and established December 2025 price targets. Much of the sector has underperformed the broader market due to exposure to consumer spending and fears of slowing card volume growth, a lack of excitement in new products, and negative estimate revisions, the analyst tells investors in a research note. JPMorgan shifted preferences somewhat for the second half of 2024, leaning more cautious on upside drivers, “preferring names with more visible, defensible growth and higher earnings quality.” Its top picks are MasterCard (MA) and Corpay (CPAY).