Lightspeed price target lowered to $13 from $17 at Piper Sandler

Piper Sandler analyst Clarke Jeffries lowered the firm’s price target on Lightspeed (LSPD) to $13 from $17 and keeps a Neutral rating on the shares. The firm says Q2 results largely took a back seat to the announcement that Lightspeed’s strategic review process has concluded with the decision to proceed forward as a public company with a multi-year transformation plan involving refocusing on core markets: North American Retail and European Hospitality. This is no doubt a disappointment for event-driven investors that may have anticipated a partial divestiture or a full go-private transaction as a catalyst for shares, Piper argues.