DA Davidson analyst Peter Heckmann raised the firm’s price target on Shift4 Payments (FOUR) to $126 from $118 and keeps a Buy rating on the shares after its Q3 results. The management has fine-tuned their 2024 financial guidance ranges, increasing the midpoint for adjusted EBITDA by 1%, the analyst tells investors in a research note. DA Davidson adds that it is forecasting the company generating compound annual organic growth in net revenue of 20%-25% as they deepen penetration of existing customers, move up-market, and expand the range of industry verticals served.
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