Cantor Fitzgerald starts Wex at Neutral, sees ‘proper’ expectations reset

As previously reported, Cantor Fitzgerald analyst Ramsey El-Assal initiated coverage of Wex (WEX) with a Neutral rating and $158 price target The company’s Mobility segment benefits from a deep, duopolistic competitive moat, while Wex also holds a market-leading position in the Benefits business, the analyst tells investors in a research note. After revising the company’s long-term organic revenue/EPS growth targets, the management has “properly reset” investor expectations, Cantor added.