BofA Raises WEX Price Target to $178, Maintains Neutral Rating

Bank of America has raised WEX's price target to $178, maintaining a neutral rating. The adjustment follows WEX's Q2 report, which showed accelerated growth in corporate payments and mobility sectors. Analysts' one-year price targets average $176.69, with a high estimate of $200.00 and a low estimate of $150.00. The average target implies a 0.93% upside from the current price of $175.06.

In a recent update, Bank of America has raised its price target for WEX Inc. to $178, while maintaining a neutral rating. The adjustment comes in the wake of WEX's Q2 report, which highlighted accelerated growth in corporate payments and mobility sectors [1].

Analysts' one-year price targets for WEX average $176.69, with a high estimate of $200.00 and a low estimate of $150.00. The average target suggests a 0.93% upside from the current price of $175.06 [1].

The upgrade follows a mixed bag of analyst ratings. Over the past three months, WEX has received 13 Hold ratings, 3 Buy ratings, and 0 Sell ratings. The analysts' consensus remains balanced, with a slight majority favoring a Hold rating [1].

The financial forecast for WEX remains cautiously optimistic. The next quarter's earnings estimate for WEX is $4.38, with a range of $3.99 to $4.47. While WEX has historically underperformed its earnings estimates, the overall industry average for beating estimates stands at 43.69% over the past year [1].

Investors should consider the potential risks associated with high debt levels and cash flow management, as highlighted by some analysts. However, the positive technical indicators and optimistic earnings call insights also suggest potential for growth in the coming quarters [1].

References:
[1] https://www.tipranks.com/stocks/wex/forecast