Wex price target lowered to $170 from $215 at Mizuho

Mizuho lowered the firm’s price target on Wex (WEX) to $170 from $215 and keeps an Outperform rating on the shares. The firm reduced estimates, saying the company’s guidance and long-term growth rates decline, but keeps an Outperform rating following the post-earnings share selloff. Wex remains a market leader in fleet management due to its “strong moat” through its closed loop network and is the “go to” solution for U.S. truck drivers, the analyst tells investors in a research note.