BofA analyst Mihir Bhatia lowered the firm’s price target on Corpay (CPAY) to $342 from $380 and keeps a Buy rating on the shares after a “nice beat and raise” in Q3. Corpay continues to execute and is delivering solid growth, but sentiment has been weak as investors worry about the impact of stablecoins on growth and margins and the firm is lowering its multiple on the view that the overhang likely persists for the next few quarters.
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