WEX Inc. Shares Slightly Higher as JP Morgan Upgrades to Neutral

Wex INC WEX was upgraded from Underweight to Neutral and the price target was raised from $90 to $95 in a research note published Friday by J.P. Morgan. The note follows recent fourth-quarter results and first-quarter guidance from Wex on The firm's Tien-sin Huang cited the stock's lower valuation vs the S&P 500 and a de-risked outlook to capture lower fuel prices and investments. Wex Inc expects to see 9 to 18 percent growth in 2014, according to Huang. Shares of WEX last traded at $88 even, up about 0.7 percent from Thursday's closing price.