DA Davidson added i3 Verticals to the firm’s list of “Stampede ideas,” expecting the company could sell its Merchant Services segment at approximately 8-times the firm’s fiscal 2024 segment adjusted EBITDA forecast of $42M, and use proceeds to reduce or eliminate its net leverage. Once complete, the market will value the pure-play Vertical Software company at a substantially higher valuation, the analyst tells investors in a research note. DA Davidson has a Buy rating on i3 Verticals.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on IIIV:
- i3 Verticals price target lowered to $23 from $24 at BMO Capital
- i3 Verticals to explore potential sale of merchant services business
- A New Cause for Concern: I3 Verticals Adds a New Corporate Activity and Growth Risk
- I3 Verticals Releases Q4 Supplemental Financial Presentation
- i3 Verticals cuts FY24 pro forma adjusted EPS to $1.52-$1.64 from $1.60-$1.78