Corpay price target raised to $354 from $310 at RBC Capital

RBC Capital raised the firm’s price target on Corpay (CPAY) to $354 from $310 and keeps a Sector Perform rating on the shares. The company continues to face challenges in its U.S. Fleet business, though its Lodging business appears to have turned the corner, the analyst tells investors in a research note. Looking out to FY25, Corpay management expects organic growth of 9%-11% as the U.S. Fleet business returns to positive y/y growth, RBC added.