Shift4 Payments price target lowered to $75 from $87 at Truist

Truist lowered the firm’s price target on Shift4 Payments to $75 from $87 and keeps a Buy rating on the shares as part of a broader research note previewing Q3 earnings in FinTech. Many of the firm’s covered names are slumping, and while broadly constructive, Q3 results may not be catalysts for some of its “favorite laggard ideas”, the analyst tells investors in a research note. Truist also believes that the challenges, including competition, commoditization, price pressure, and investments needed to move up-market and into more complex SMBs will not quickly abate. The firm adds however that Shift4’s year-to-date underperformance is an opportunity, with the company positioned to sustain materially above-average End-to-End volume and organic revenue growth as it reprices gateway customers and accelerates conversions.