Shift4 Payments price target raised to $90 from $85 at BTIG

BTIG analyst Andrew Harte raised the firm’s price target on Shift4 Payments to $90 from $85 and keeps a Buy rating on the shares. The firm says the company used its Q2 report to address all potential investor questions that could be weighting on the stock’s valuation, including: organic growth details, acquisition lookbacks and acquisition playbooks, and insights into the $25B backlog of payment volume that is expected to go live during the second half of 2024 to drive accelerated growth exiting the year. The answers to investor questions paired with the Q2 “beat and raise” provides confidence for the target raise, the analyst tells investors in a research note. BTIG sees “plenty of indications” that Shift4 can sustain 20%-plus organic growth.