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Payne's Picks

FleetCor Technologies Headed to $175?

By Payne's PicksFOXBusiness

Can Fleetcor Technologies get boost from Christmas shopping?

FBN’s Charles Payne, retail analyst Hitha Herzog and Penn Financial Group founder Matt McCall on the outlook for Fleetcor Technologies.

Let’s talk about FleetCor Technologies (NYSE:FLT).

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The company deals with fuel cards, processing, electronic payment and gift cards. They have 20,000 customers all over the world. I really like this one a lot.

I will tell you, the last time they reported, they had a little bit of pressure from their marketing commissions and some other things. Net income went down slightly. But still at 32%, I actually think it's fantastic

They've been in an acquisitions spree. They recently made a real big deal to acquire Comdata for $3.4 billion. Right now, they probably enable $55 billion a year in transactions. I think it's going to continue to do extraordinarily  well. They also do cards for the lodging industry and the food industry in 43 countries.

Right now, technically I see a breakout at $150. My target is $175.


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