Morgan Stanley Maintains Equal-Weight Rating for Fleetcor Technologies: Here's What You Need To Know

Morgan Stanley has decided to maintain its Equal-Weight rating of Fleetcor Technologies FLT and lower its price target from $268.00 to $254.00.

Shares of Fleetcor Technologies are trading down 2.1% over the last 24 hours, at $221.04 per share.

A move to $254.00 would account for a 14.91% increase from the current share price.

About Fleetcor Technologies

Fleetcor Technologies Inc is a provider of specialised payment products. The company offers fleet cards, food cards, corporate lodging discount cards, and other specialised payment services. Fleetcor's systems enable its customers to manage and control their commercial payments and loyalty-card programmes. Customers include commercial fleet operators, major oil companies, petroleum marketers, and government entities. Further, Fleetcor offers customised analysis solutions to its clients, offering business productivity tracking capabilities. North America is the largest geographic operating segment.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.