Keefe Bruyette lowered the firm’s price target on Wex (WEX) to $220 from $247 and keeps an Outperform rating on the shares as part of a 2025 outlook for the financial technology group. This is the quarter when 2025 outlooks “will be front and center and will be the biggest driver of stock moves on the print,” the analyst tells investors in a research note. The firm says that while macro factors such as currency and fuel prices are likely headwinds relative to consensus estimates, it is optimistic about underlying core trends especially as consumer spending seems to be showing signs of improvement from Q3 levels. Adyen (ADYEY), PayPal (PYPL), Mastercard (MA), and FIS (FIS) are names Keefe is most positive on into the Q4 print
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Read More on WEX:
- Wex downgraded to Equal Weight from Overweight at Barclays
- Wex announces partnership with Qmerit for commercial fleets, EV charging
- Wex participates in a conference call with William Blair
- Wex and Holman expand partnership across U.S. and Canada, no terms
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
