Lightspeed price target raised to $20 from $18 at BMO Capital

BMO Capital analyst Thanos Moschopoulos raised the firm’s price target on Lightspeed to $20 from $18 and keeps an Outperform rating on the shares after Reuters reported the company has hired an investment bank to solicit interest from potential buyers. In response, Lightspeed issued a statement noting that it is currently conducting a strategic review, without elaborating on the alternatives it may be considering, the analyst tells investors in a research note. BMO upped the price target on the view that the stock “could be worth considerable more on a takeout,” citing the potential scarcity value associated with Lightspeed’s scale, its “depressed” valuation, and its future earnings power as payments penetration continues to ramp.