Par Technology price target raised to $55 from $50 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Par Technology to $55 from $50 and keeps a Buy rating on the shares. While this was a reasonably routine quarter for Par Technology from a numbers perspective, several items excite the firm about FY24, namely the Burger King rollout set to begin in Q2; Popeyes with an upcoming franchise meeting in April, creating the potential for another prominent contract announcement in the coming months; the overall pipeline that is more robust than ever; and finally, management clarifying that it aims to be active in the M&A market.