World Kinect price target raised to $32 from $29 at JPMorgan

JPMorgan raised the firm’s price target on World Kinect to $32 from $29 and keeps a Neutral rating on the shares. The firm thinks the convenience story industry should continue to see challenges from discretionary purchases inside the store, while the fuel business has not shown signs of structural growth from a volume perspective. Margin improvement should be limited from here as the structural story has largely played out over 2019 to 2023, the analyst tells investors in a research note.