Shift4 Payments price target raised to $104 from $96 at DA Davidson

DA Davidson analyst Peter Heckmann raised the firm’s price target on Shift4 Payments to $104 from $96 and keeps a Buy rating on the shares after its Q2 earnings beat. The firm cites the company’s 41% y/y revenue increase and 48% adjusted EBITDA increase, also “materially” raising its forecasts, with roughly half of the increase due to the acquisitions of Revel and Vectron, the analyst tells investors in a research note.