Wex price target raised to $161 from $158 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Wex (WEX) to $161 from $158 and keeps an Equal Weight rating on the shares. The negative stock reaction – mainly a function of elevated expectations and a slightly less bullish posture on organic acceleration throughout the year than some had hoped – “looks overdone” in the context of a slight organic raise to the full year, the analyst tells investors. The firm is raising estimates to reflect fuel-driven upside “as well as a slightly more optimistic organic posture,” the analyst added.