Wex price target raised to $233 from $218 at JPMorgan

JPMorgan analyst Tien-tsin Huang raised the firm’s price target on Wex to $233 from $218 and keeps a Neutral rating on the shares. The analyst established December 2024 price targets for the payments and processors group, saying much of the sector continues to trade near multi-year lows, with valuations compressed well beyond historical averages relative to the S&P 500 Index. The firm assumes the “relative bearish sentiment” remains, but sees “healthy upside” for its top picks.