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Fly News Breaks for January 17, 2019
FLT
Jan 17, 2019 | 16:16 EDT
BTIG analyst Mark Palmer started FleetCor Technologies (FLT) with a Buy rating and $253 price target. The company's recurring revenue, high operating leverage and EBITDA margins north of 50% "merit investors' attention," Palmer tells investors in a research note. Further, the analyst views the shares as attractively valued following the pullback that began in late September. He sees both FleetCor and Wex (WEX) as well positioned to benefit from the "ongoing cash-to-card displacement trend."
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