Lightspeed price target lowered to $15 from $20 at RBC Capital

RBC Capital lowered the firm’s price target on Lightspeed (LSPD) to $15 from $20 but keeps an Outperform rating on the shares ahead of its Capital Markets Day. The firm is reducing its price target after the company cut its FY25 revenue growth outlook, the analyst tells investors in a research note. RBC adds that it expects the event to feature the company’s pivot to focus on North America Retail and European Hospitality and associated investments as well as its product roadmap emphasizing software, also noting that the management will likely offer medium-term guidance that includes “at least mid-teens revenue growth”.