JPMorgan analyst Tien-tsin Huang upgraded Lightspeed to Neutral from Underweight with a $19 price target in conjunction with the firm’s 2024 Outlook for Payments, Processors and IT Services. The firm turned more constructive on Lightspeed earlier in the year after it unified its platforms and “took the necessary step” of mandating Lightspeed Payments. While the latter still creates churn risk, the risk-reward seems more balanced with better retention to date plus enhanced growth from monetizing payments, the analyst tells investors.
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