BTIG keeps a Buy rating and $118 price target on Shift4 Payments (FOUR), saying the firm would be a buyer of the stock after its 12% decline today following the announcement that CEO Jared Issacman accepted his nomination from President-Elect Trump for Administrator of NASA. Issacman’s departure is not expected to change the near- to medium-term growth trajectory of the company, which is in part driven from a $33B backlog of already signed business, the analyst tells investors in a research note. BTIG also notes that the valuation on Shift4 Payments is “very reasonable for the company’s growth profile”.
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