Keefe Bruyette initiated coverage of Shift4 Payments with an Outperform rating and $95 price target. Shift4 is a leading provider of software and payment processing solutions in the restaurant vertical in the United States and is now expanding into new verticals like stadiums and hospitality and new geographies like Europe and Canada, the analyst tells investors in a research note. The firm believes these initiatives should support solid organic growth into the future. Additionally, the company has a track record of small strategic acquisitions that have opened new growth channels, contends Keefe.
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