Shift4 Payments price target raised to $110 from $100 at Wells Fargo

Wells Fargo analyst Andrew Bauch raised the firm’s price target on Shift4 Payments (FOUR) to $110 from $100 and keeps an Overweight rating on the shares. The firm notes Shift4 missed Q3 net revenues, GP, and E2E vols on softer consumer spend. While Q3 was messy, Wells believes strategic initiatives and deal accretion will support over 20% organic revenue growth for multiple years.