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Fly News Breaks for April 26, 2018
WEX
Apr 26, 2018 | 06:53 EDT
Citi analyst Peter Christiansen upgraded Wex to Buy from Neutral and raised his price target for the shares to $200 from $165. Despite rallying 28% in the past six months, the stock should "grind further on continued organic momentum, though importantly on favorable margin dynamics," Christiansen tells investors in a research note. The analyst believes rising fuel prices represent a large component of potential upside. Further, he thinks WEX Health should begin to see margin improvement following several quarters on elevated investment.
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