Shift4 Payments price target raised to $85 from $69 at Piper Sandler

Piper Sandler raised the firm’s price target on Shift4 Payments to $85 from $69 and keeps an Overweight rating on the shares. The company’s quarterly results "will be largely eclipsed" by the strong fiscal 2024 guidance across both growth and profitability metrics, the analyst tells investors in a research note. The firm believes Shift4’s business model that could double sales within three years while showing margin improvement.