Cantor Fitzgerald Starts WEX Inc. (WEX) at Neutral

Cantor Fitzgerald analyst Ramsey initiates coverage on WEX Inc. (NYSE: WEX) with a Neutral rating and a price target of $158.00.

The analyst comments "The Mobility segment benefits from a deep, duopolistic competitive moat. The company also holds a market-leading position in the Benefits business. ● After revising the company’s long-term organic revenue/EPS growth targets, we believe WEX has properly reset investor expectations. The company has also lapped a number of short-term headwinds (e.g., Booking.com [N, covered by D. Mathivanan] transition) that result in a “cleaner” setup vs. prior years. ● Competitive pressures in the Corporate Payments segment have intensified over the past few years. ● We expect Mobility and Benefits organic growth to decelerate over time as both markets continue to mature. ● Key risks include: 1) increasingly mature endmarkets,2) fuel prices,3) macro,4) risk/fraud/data security,and 5) regulatory. ● Our $158 price target is based on 8x our FY27 EPS estimate of $19.77."

For an analyst ratings summary and ratings history on WEX Inc. click here. For more ratings news on WEX Inc. click here.

Shares of WEX Inc. closed at $159.97 yesterday.

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