Wex price target lowered to $170 from $211 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Wex (WEX) to $170 from $211 on Friday and kept an Equal Weight rating on the shares. Even with the 15% move, the firm thinks shares will continue to be pressed until Wex is able to demonstrate that recent execution challenges are in the rear-view and 2025 estimates aren’t at further risk.