Shift4 Payments price target raised to $90 from $77 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Shift4 Payments to $90 from $77 and keeps a Buy rating on the shares. The firm is positive on Shift4 and believes management commentary suggests that the business is performing well against their relatively conservative outlook, the analyst tells investors in a research note. Goldman Sachs also thinks Shift4 will be the beneficiary of strong trends in travel, hospitality, and restaurants, as well as seasonal strength from events, and says that if it is able to convert 40%-60% of the $150B in gateway volumes, this could drive an incremental $500M in revenue and $350M in EBITDA.