i3 Verticals price target lowered to $23 from $24 at KeyBanc

KeyBanc lowered the firm’s price target on i3 Verticals to $23 from $24 and keeps an Overweight rating on the shares. i3 Verticals reported Q4 revenue below the Street on lighter software and services revenue while adjusted EBITDA came in ahead of the Street, benefiting from broad-based margin improvements in both segments, the analyst tells investors in a research note.