Stephens raised the firm’s price target on Shift4 Payments (FOUR) to $110 from $90 and keeps an Overweight rating on the shares. Given decelerating, yet relatively stable, payment volumes and a challenging competitive backdrop, positioning in the payment space remains defensive, with a bias towards names with growing value-add service contributions and share-gainers, the analyst tells investors in a preview for the group. In the absence of macro acceleration, the firm expects variability in returns across the space to stay elevated, with valuations remaining below historical levels, the analyst added.
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Read More on FOUR:
- Shift4 Payments price target raised to $105 from $90 at BTIG
- Shift4 Payments initiated with an Overweight at Barclays
- Shift4 Payments initiated with an Outperform at Oppenheimer
- Jefferies sees private equity or Worldpay as ‘most likely’ Lightspeed buyers
- Shift4 Payments price target raised to $95 from $75 at Wells Fargo
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