Benchmark notes that Shift4 Payments shares traded lower yesterday after Bloomberg News reported that CEO Jared Isaacman last Friday had sent a memo to employees in which he stated that Shift4 had received several bids from suitors at prices higher than the levels at which the stock has been trading, but that its board had decided that none of those bids adequately reflected the company’s value and growth prospects. The firm views the pullback based on that news as a buying opportunity, however, and keeps a Buy rating and $99 price target on Shift4 shares.
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Read More on FOUR:
- Fiserv buying Shift4 at $95 per share could make sense, says Mizuho
- Seaport Research says Block should acquire Shift4 Payments
- Shift4 Payments price target raised to $95 from $85 at BofA
- Shift4 takeout price could be $130-$138 per share, says DA Davidson
- Fiserv, Amadeus main contenders to acquire Shift4 Payments, Reuters says
