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Fly News Breaks for May 2, 2017
FLT
May 2, 2017 | 07:03 EDT
Jefferies analyst Ramsey El-Assal believes FleetCor last night directly addressed the recent bear attack when reporting Q1 results. The company sized its total fee revenue exposure at just 13% of revenue, versus the bears incorrect assumption of 55%, El-Assal tells investors in a post-earnings research note. The analyst is "optimistic" that management's response will help set FleetCor shares "on a path to recovery." He keeps a Buy rating on the name with a $197 price target.
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