Shift4 Payments upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs analyst Will Nance upgraded Shift4 Payments to Buy from Neutral with a price target of $67, up from $48. The analyst believes Shift4 is well positioned to continue to deliver "strong" growth rates into 2023 across several angles, including its gateway conversion strategy, geographic expansion into new markets, and entry into various new verticals, including stadiums, hospitality charitable giving, and travel. With multiple levers for growth, Shift4 does not need to be successful in every one and its execution across several of these initiatives should continue to support growth and help to offset potential macro weakness in its legacy verticals, Nance tells investors in a research note.