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Fly News Breaks for April 6, 2017
FLT
Apr 6, 2017 | 06:40 EDT
Many of the points laid out in the Citron Research short report on FleetCor are "overstated or misleading," Citi analyst Peter Christiansen tells investors in a research note. His analysis indicates FleetCor's "all-in" fuel card pricing is similar to its competitor and that fuel card customers, despite all of the costs, still save 7%-12% on their fuel spending. The analyst asks, "If the efficacy of a cost savings product is in question, then couldn't consumers just pay the retail price?" Christiansen encourages FleetCor management to preannounce Q1 earnings and/or hold a conference call to address the concerns. He sees a buying opportunity at current share levels and tells investors to not believe "all the negative hype." The stock hasn't been at these multiple levels since 2012-2013, the analyst points out.
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