Opco upgrades Corpay to Outperform, sees ‘growth at a discount’

Oppenheimer upgraded Corpay (CPAY) to Outperform from Perform with a $380 price target The firm says the shares at current levels offer “growth at a discount.” Corpay’s medium term growth prospects are “encouraging” due the sales strength in Q3, expansion into “faster-growing” corporate payments, and improvement in its U.S. vehicle payments segment, the analyst tells investors in a research note. In 2026, Oppenheimer expects 10% revenue and mid-teens earnings growth for Corpay due to Alpha acquisition accretion and Corpay’s minority stake in AvidXchange. It says the stock already prices in near-term macro environment deterioration.