Element Fleet Management Corp. (ELEEF, Financial), a company with roots in fleet financing, has been rated as "Market Perform" by Keefe Bruyette. The financial services firm has set a price target of CAD 33 for the stock. Originally focused on providing fleet financing solutions, Element Fleet has evolved its business model to become more focused on delivering services.
The analyst's report highlights the company's shift towards a service-centered growth strategy, which is contributing to the improvement in return on equity. However, it was noted that these positive changes are already well integrated into the current stock valuation of Element Fleet. As the company continues to transition, this service-led approach is expected to be a key driver in its financial performance.
