Piper Sandler raised the firm’s price target on Shift4 Payments to $93 from $85 and keeps an Overweight rating on the shares. The firm believes Shift4 Payments has an attractive trajectory with increasing penetration with larger merchants, continued vertical expansion, and remaining monetization potential via conversion on Gateway volumes. In 2024, Piper sees the potential for Shift4 Payments to generate over 30% organic GRLNF growth while improving on the Q4 exit rate of 48% EBITDA margins.
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