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Fly News Breaks for January 14, 2016
WEX, FLT
Jan 14, 2016 | 07:22 EDT
Deutsche Bank analyst Ashish Sabadra lowered his estimates for FleetCor Technologies (FLT) and WEX Inc. (WEX) to reflect the decline in oil and strengthening of the U.S. dollar. Roughly 15% of FleetCor's revenues are exposed to absolute fuel prices while WEX doesn't have hedges in 2016, Sabadra tells investors in a research note. He cut his price target for Buy-rated FleetCor to $150 from $184 and Hold-rated WEX to $80 from $93.
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