i3 Verticals price target raised to $26 from $22 at BMO Capital

BMO Capital analyst Rufus Hone raised the firm’s price target on i3 Verticals (IIIV) to $26 from $22 and keeps a Market Perform rating on the shares. The company’s Q1 beat was underpinned by a meaningful acceleration in organic growth, though it benefited from some pull-forward of one-time revenues and an easier prior- year comp, the analyst tells investors in a research note. i3 Verticals however made encouraging progress in accelerating organic growth back towards the long-term high-single-digit target, the firm added.