As previously reported, Stephens analyst Charles Nabhan upgraded Shift4 Payments to Overweight from Equal Weight with an unchanged price target of $80. The firm sees "minimal validity" to the Blue Orca short report issued yesterday, which it instead contends has "created an attractive entry point for shares" given their pullback. The firm had previously concluded that the year-to-date advance in shares reflected comfort around the 2023 guidance and that the macro risk associated with restaurant/hotels warranted a degree of caution. However, its believes the risk/reward has improved "considerably" following a 12% decline in the past week.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on FOUR:
- Shift4 Payments short report likely to weigh on shares in near-term, says RBC
- Shift4 Payments falls -13.2%
- Shift4 Payments short report ‘opportunistically motivated,’ says Stephens
- Truist says add to Shift4 Payments position after ‘spurious’ short report
- Shift4 Payments accused of ‘aggressive financial maneuvers’ in short report