2024-02-16 23:34:17 ET
Summary
- I upgraded my recommendation to buy, as I believe the market has overreacted to the 4Q23 miss and the current valuation offers attractive upside.
- The 4Q23 miss was primarily due to timing issues and weather-related factors, not a structural impairment to FLT's growth outlook.
- FLT's transition to a broader Vehicle Payments business aligns with the growing EV industry and the company's innovative product offerings contribute to a positive outlook.
Overview
Read the full article on Seeking Alpha
For further details see:
Fleetcor Technologies: Rating Upgrade As Valuation Is Cheap