KeyBanc raised the firm’s price target on i3 Verticals (IIIV) to $32 from $27 and keeps an Overweight rating on the shares. The firm notes i3 Verticals reported Q1 revenue ahead of the Street, helped largely by the timing of license revenue. Exiting the quarter, KeyBanc was encouraged by organic growth, better than expected margin expansion, and sales pipeline commentary including success with larger than typical customers for certain products.
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