Par Technology price target raised to $48 from $42 at Lake Street

Lake Street raised the firm’s price target on Par Technology to $48 from $42 and keeps a Buy rating on the shares. The firm, which says it understands “pipeline is not the same thing as revenue,” adds that its sense is that Par is “on the cusp of winning Tier 1 business in 2024 that will set up top line growth for years to come,” so it is willing to be patient with the longer path to profitability given the company’s recent pipeline conversion.