RBC Capital analyst Daniel Perlin raised the firm’s price target on Corpay (CPAY) to $400 from $354 and keeps a Sector Perform rating on the shares. The company’s underlying growth continues to make progress, but the overall macro backdrop is resulting in a reduction of prior guidance, with FX, fuel prices, and interest rates having turned worsened since Corpay provided prior ranges back on its November earnings call, the analyst tells investors in a research note.
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