Morgan Stanley Sees Streak Of Beat And Raise Continue For FleetCor Technologies

In a report published Friday, Morgan Stanley analyst Smittipon Srethapramote reiterated an Equal-Weight rating on FleetCor Technologies FLT. In the report, Morgan Stanley noted, “We believe that risk/reward is balanced at current levels. We have been impressed by management's execution since the IPO and believe the company has plenty of opportunities to continue executing on its plan to find and improve undermanaged assets internationally. However, we believe the market has also started to appreciate this view. Further upside is possible if the company can start executing on its partnership strategy with oil companies in Europe, although visibility is limited today.” FleetCor Technologies closed on Thursday at $114.94.