B. Riley sees ‘exceptional value’ in Shift4 after Toast comparison

B. Riley thinks shares of Shift4 Payments (FOUR) offer “exceptional value” after the stock’s 13% pullback year-to-date versus Toast’s (TOST) upside move of 33%. Toast has two-times the market cap despite a similar level of payment volume, the analyst tells investors in a research note. The firm says Shift4 has an estimated two-times more merchants and a more diversified mix of clients on its platform than Toast. In addition, Shift4’s software heritage allows it to serve more and diverse clients, the firm contends. It sees more to like at Shift4 Payments following its comparison analysis and keeps a Buy rating on the shares with a $104 price target.