Raymond James analyst John Davis upgraded Shift4 Payments to Outperform from Market Perform with a $74 price target. which represents 36% upside. A significant portion of the company’s new wins since 2022 have come from less macro dependent verticals, which is improving its overall mix and profitability, the analyst tells investors in a research note. The firm says the Finaro acquisition closing in late Q3 of early Q4 will likely be a catalyst for the stock as it “lays the foundation for the next leg of growth.” Raymond James sees upside to fiscal 2024 Street estimates, assuming the Finaro deal does in fact close.
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