Par Technology assumed with a Neutral at BTIG

BTIG analyst Andrew Harte assumed coverage of Par Technology with a Neutral rating and no price target. The implied valuation of the company’s cloud-based point-of-sale software business “appears fair” at current share levels, the analyst tells investors in a research note. The firm likes the company’s ability to be a “one-stop-shop” as its Operator Solutions, Guest Engagement, and Back Office capabilities are “beginning to click,” but also views the likelihood of surpassing the Street’s expectations or management’s guidance as unlikely.