Oppenheimer initiates coverage of WEX with 'perform' rating

Oppenheimer initiates coverage of fintech firm WEX WEX.N with a "perform" rating

Brokerage believes co's strong market position in fuel cards, corporate payments and benefits administration enables it to capture strong growth trends in its end markets

Oppenheimer says WEX's diversified end-market exposure also provides some insulation to any potential sector-specific weakness

Three of 15 brokerages rate the stock "buy" or higher, 12 "hold"; their median PT is $155.50 - data compiled by LSEG

Including session's moves, stock down ~21.9% YTD