UPDATE: Citigroup Raises Target to $61 on Wright Express

Citigroup reiterates its Neutral rating on Wright Express

and raises its price target to $61 from $53 ahead of earnings report, reflecting rally in fuel prices. Citigroup comments, "We are increasing our 4Q11 EPS estimate by $0.01 to $0.94 (vs. consensus of $0.91), reflecting higher US gas prices. We are increasing our 2012 EPS estimate by $0.16 to $4.35 and now are $0.14 ahead of consensus expectations, primarily due to higher gas price assumptions and a slightly better US economy." WXS closed at $58.20 a share on Friday.