Shift4 Payments price target raised to $100 from $75 at Truist

Truist analyst Andrew Jeffrey raised the firm’s price target on Shift4 Payments to $100 from $75 and keeps a Buy rating on the shares as part of a broader research note on FinTech names. After a strong Q4, the firm sees “more of the same” for the group as investors add exposure in a soft landing and press multiple expansion for fast-growing Digital FinTechs that are approaching profitability, the analyst tells investors in a research note. The firm also expects Shift4 to deliver mid-40%s organic End-to-End volume growth and low-20%s organic revenue growth in 2024, about 4-times and 2-times the market, respectively, Truist added, stating that the company’s robust outlook is being powered by its core E2E processing offering.