UPDATE: Morgan Stanley Upgrades FleetCor Technologies, Inc. On Multiple Positive Factors

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In a report published Thursday, Morgan Stanley analyst Smittipon Srethapramote upgraded the rating on

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FleetCor Technologies, Inc.

(NYSE: FLT) from Equal-Weight to Overweight, and named a $145.00 price target.In the report, Morgan Stanley noted, “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. Further upside is possible if the company can continue executing on its partnership strategy with oil companies in Europe, although visibility is limited today. Virtual cards and US OTR businesses present new opportunities for FLT to grow EBITDA, both through organic growth and through additional acquisitions.”FleetCor Technologies, Inc. closed on Wednesday at $130.13.