Stephens lowered the firm’s price target on i3 Verticals to $28 from $32 and keeps an Overweight rating on the shares. While the 2024 outlook assumes a headwind from education and the impact of a public worker strike in Canada on Celtic, he firm views these factors as transient and sees an acceleration in 2025 based on a large utility win and an acceleration in education, the analyst tells investors in a post-Q4 note.
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