Shift4 Payments initiated with an Overweight at Wells Fargo

Wells Fargo analyst Andrew Bauch initiated coverage of Shift4 Payments with an Overweight rating and $55 price target. Skeptics are “often quibbling about messaging inconsistency,” but the firm believes Shift4’s long-term opportunity has “become underappreciated,” the analyst tells investors. The firm expects “continued execution on a well-defined playbook” from Shift4, the analyst added.