Shift4 Payments price target raised to $94 from $80 at RBC Capital

RBC Capital analyst Daniel Perlin raised the firm’s price target on Shift4 Payments to $94 from $80 and keeps an Outperform rating on the shares after its Q4 results. The company’s underlying growth drivers remain solid, though a large enterprise client delay and unique gateway to E2E conversion caused it to miss its Q4 gross revenues, the analyst tells investors in a research note. RBC adds that the optics associated with these transactions are worse than the underlying fundamentals, and thus investors “should not lose sight of the material opportunities for growth”.