J.P. Morgan Upgrades FleetCor to Overweight, $41 PT

In a note out today, J.P. Morgan upgraded FleetCor Technologies

to overweight and raised its price target on the stock to $41 from $39, saying “we believe (1) yesterday's accretive AllStar acquisition and recent business fundamentals set the stage for positive EPS revisions over the next 12 to 18 months and (2) the current valuation is compelling (FLT trades at a 23% discount to the broader processing space),” the bank said.