Goldman Sachs raised the firm’s price target on Par Technology (PAR) to $42 from $40 and keeps a Neutral rating on the shares. The firm is adjusting its model after the company’s acquisition of TASK Group, noting that this deal has more compelling strategic merits, given that it will allow Par Technology to offer its suite of services globally in international markets. The close relationship that TASK has with McDonald’s (MCD) is also a “strong strategic positive”, with McDonald’s having an equity stake in TASK in addition to being a customer of TASK’s loyalty solution, the firm added.
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Read More on PAR:
- PAR Technology’s Strategic Acquisitions and Capital Expansion
- Par Technology to acquire TASK Group for $206M, completes Stuzo acquisition
- New Accounting & Financial Operations Risk for Par Technology – What’s the Latest?
- Par Technology price target raised to $55 from $50 at Craig-Hallum
- Par Technology price target raised to $48 from $42 at Lake Street
