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.
Published first on TheFly
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