FleetCor Technologies shares are trading lower after the company reported worse-than-expected Q3 financial results and lowered FY23 revenue guidance. Additionally, Morgan Stanley lowered its price target from $244 to $240 on the stock.
Portfolio Pulse from Benzinga Newsdesk
FleetCor Technologies reported worse-than-expected Q3 financial results and lowered its FY23 revenue guidance. Morgan Stanley also lowered its price target for FleetCor from $244 to $240.
November 09, 2023 | 3:26 pm
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FleetCor's disappointing Q3 results and lowered FY23 revenue guidance, along with Morgan Stanley's reduced price target, could negatively impact the company's stock price.
FleetCor's worse-than-expected Q3 results and lowered FY23 revenue guidance indicate potential operational and financial challenges. Additionally, Morgan Stanley's reduced price target suggests a less optimistic outlook for the company's stock, which could lead to a decrease in its price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100