Jefferies downgraded Element Fleet (ELEEF) to Hold from Buy with a price target of C$30, down from C$32. Industry headwinds have caused vehicle under management growth to slow more than anticipated and given Element’s strong recent share price run-up and guidance in line with the firm’s expectations, the firm now has less confidence in earnings growth in 2025 exceeding the market’s expectations, the analyst tells investors.
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Read More on ELEEF:
- Element Fleet price target raised to C$34 from C$30 at Raymond James
- Element Fleet price target lowered to C$32 from C$33 at Scotiabank
- Element Fleet price target raised to C$39 from C$37 at National Bank
- Element Fleet Management Reports Record Results
- Element Fleet Management Corp. (ELEEF) Q3 Earnings Cheat Sheet
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