Par Technology price target raised to $42 from $35 at Craig-Hallum

Craig-Hallum analyst George Sutton raised the firm’s price target on Par Technology to $42 from $35 and keeps a Buy rating on the shares. The firm believes the company is setting itself up well for what should be a stellar fiscal 2023 given several active catalysts. Valuation will likely remain challenging for some investors, but it is clear to Craig-Hallum that Par is quickly growing into a category leader with very few potential competitors. The firm believes the stock should begin to reaccelerate as it demonstrates operational leverage in the business, which could occur faster than investors may expect as several catalysts provide for meaningful upside potential in the second half of 2023.