UPDATE: Sterne Agee Downgrades Wright Express from Buy to Neutral

Sterne Agee downgraded Wright Express

from a Buy to a Neutral rating and gave a price target of $73. Sterne Agee noted, “We are downgrading Wright Express to Neutral from Buy as we believe the upside and downside risks are now more balanced than over the past year. In short, we expect general economic concerns to offset excitement around Wright Express' new deal with PaySpan. We are lowering our estimates based on more conservative fuel price and transaction growth assumptions.” Wright Express closed at $60.03 on Wednesday.