Lightspeed initiated with a Neutral at BofA

BofA analyst Koji Ikeda initiated coverage of Lightspeed with a Neutral rating and $20 price target. While BofA feels Lightspeed is disrupting an underserved market within its target end-markets, its risk-reward is balanced at current levels, the analyst tells investors in a research note. Lightspeed’s recent workforce reduction should help accelerate the path to profitability, the firm says.