i3 Verticals initiated with a Market Perform at BMO Capital

BMO Capital initiated coverage of i3 Verticals with a Market Perform rating and $24 price target. The company has a lot to like, including a strong organic growth trajectory and less cyclical end markets, but , but there isn’t a clear catalyst for a stock re-rating, the analyst tells investors in a research note. Despite consistent execution, the share price is essentially unchanged over the last five years, says BMO.