Shift4 Payments price target raised to $80 from $75 at Credit Suisse

Credit Suisse analyst Timothy Chiodo raised the firm’s price target on Shift4 Payments to $80 from $75 and keeps an Outperform rating on the shares. Shift4 reported better-than-expected Q2 results with E2E volumes and adjusted EBITDA coming in ahead of Street expectations, with FY23 guidance increased, the analyst tells investors in a research note. The company is cautiously optimistic that consumer spending will continue to remain resilient despite their guidance contemplating continued moderation in restaurant spending, the firm notes.