Benchmark says the buyout of Nuvei (NVEI) by Advent International for $34 per share in cash or $6.3B makes Shift4 Payments (FOUR) “look even more attractive.” Even with Shift4 expected to grow both its top- and bottom-lines at a pace several times that of Nuvei, its shares trade at just 8.2-times the company’s estimated fiscal 2024 enterprise value to EBITDA, the analyst tells investors in a research note. The firm believes Shift4 shareholders may look back at not reaching a takeover deal as a favorable outcome. The company “has plenty of avenues for growth that ultimately could see it achieve a fuller valuation than a takeout would have afforded,” contends Benchmark. It reiterates a Buy rating on the stock with a $99 price target.
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