Lightspeed price target lowered to $17 from $20 at Wells Fargo

Wells Fargo lowered the firm’s price target on Lightspeed to $17 from $20 and keeps an Equal Weight rating on the shares. Despite impressive progress on its payments strategy, messaging around macro and how Lightspeed’s return to investment mode would unfold took focus, the analyst tells investors in a research note. The firm believes the move down was overdone but is still cautious.