Corpay price target raised to $388 from $378 at Oppenheimer

Oppenheimer raised the firm’s price target on Corpay (CPAY) to $388 from $378 and keeps an Outperform rating on the shares. The firm notes Corpay delivered Q1 organic revenue growth of 11%, exceeding the Street’s 10% forecast, driven by 10% growth in Vehicle Payments and 16% growth in Corporate Payments, fueled by continued strength in cross-border activity. Earnings also surpassed both Oppenheimer’s estimate and Street expectations.