Shift4 Payments price target lowered to $75 from $100 at Wells Fargo

Wells Fargo analyst Andrew Bauch lowered the firm’s price target on Shift4 Payments to $75 from $100 and keeps an Overweight rating on the shares. Shift4 Payments’ Q1 was objectively weak, this was all but assumed ahead of the print, and Wells Fargo gets the sense investors were relieved to pivot back to fundamentals, the firm says. Management took accountability by explaining that the prior FY24 commentary was inadequate and didn’t address seasonal dynamics enough, the firm adds.