BUZZ-Citigroup says WEX's growth recovery to take longer, cuts to 'neutral'

Reuters

15 Jan

BUZZ-Citigroup says WEX's growth recovery to take longer, cuts to 'neutral'

** Citigroup cuts rating on software company WEX Inc WEX.N to "neutral" from "buy"; cuts PT to $190 from $260

** Ongoing challenges in mobility and corporate payments segments expected to linger in 2025, with minor improvements from contract renewals unlikely to significantly boost growth, Citi says

** Brokerage adds WEX can manage temporary issues in mobility segment, but needs clearer insights into client and virtual card economics in corporate payments segment

** While upcoming Online Travel Agency renewal will not be as significant as the 2024 renewal, factors like payment economics, volume shifts or role changes could delay growth recovery further in 2025, Citi says

** Six of 17 brokerages rate stock "buy" or higher, 11 "hold"; their median PT is $200 - data compiled by LSEG

** WEX stock fell ~10% in 2024

(Reporting by Akriti Shah in Bengaluru)

((akriti.shah@thomsonreuters.com))

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cuts PT to $190 from $260** Ongoing challenges in mobility and corporate payments segments expected to linger in 2025, with minor improvements from contract renewals unlikely to significantly boost growth, Citi says** Brokerage adds WEX can manage temporary issues in mobility segment, but needs clearer insights into client and virtual card economics in corporate payments segment** While upcoming Online Travel Agency renewal will not be as significant as the 2024 renewal, factors like payment economics, volume shifts or role changes could delay growth recovery further in 2025, Citi says** Six of 17 brokerages rate stock \"buy\" or higher, 11 \"hold\"; their median PT is $200 - data compiled by LSEG** WEX stock fell ~10% in 2024  (Reporting by Akriti Shah in Bengaluru) ((akriti.shah@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}