WEX signs new company-wide deal with Caltex Australia WEX announced the signing of a new company-wide deal with Australia’s transport fuel supplier and convenience retailer, Caltex Australia, to accept the Wright Express fuel card. While the cards were already accepted at a number of Caltex sites, this new deal will mean acceptance will broaden to all Caltex’s company-operated and many of Caltex’s franchise and reseller locations.
On The Fly: Analyst Initiation Summary Today's noteworthy initiations include: Biocept (BIOC) initiated with a Buy at H.C. Wainwright... C.H. Robinson (CHRW) initiated with a Buy at Evercore ISI... Chipotle (CMG) initiated with a Hold at Maxim... Con-way (CNW) initiated with a Buy at Evercore ISI... Dermira (DERM) initiated with an Outperform at Cowen... Expeditors (EXPD) initiated with a Hold at Evercore ISI... Fleetmatics (FLTX) initiated with an In-Line at Imperial Capital... Frontier Communications (FTR) initiated with an Overweight at Stephens... Gevo (GEVO) initiated with a Buy at Rodman & Renshaw... International Game (IGT) initiated with a Sell at Goldman... Knight Transportation (KNX) initiated with a Buy at Evercore ISI... Logitech (LOGI) initiated with a Buy at Rosenblatt... Navistar (NAV) initiated with a Neutral at Macquarie... Panera Bread (PNRA) initiated with a Hold at Maxim... Scientific Games (SGMS) initiated with a Sell at Goldman... Swift Transport (SWFT) initiated with a Hold at Evercore ISI... Tribune Media (TRCO) initiated with an Equal Weight at Morgan Stanley... WEX Inc. (WEX) initiated with an Equal Weight at Barclays... Zoe's Kitchen (ZOES) initiated with a Buy at Maxim.
WEX Inc. downgraded to Underweight from Neutral at JPMorgan JPMorgan downgraded WEX Inc. to Underweight saying fleet volume growth is decelerating and the valuation looks "stretched on a relative growth basis." The firm raised its price target for the stock to $100 from $94.