BTIG analyst Andrew Harte keeps a Buy rating and $85 price target on Shift4 Payments, saying the weakness in the stock following reports that the company’s board rejected multiple acquisition proposals represents a buying opportunity for investors. The firm remains positive on Shift4 Payments and contends that the company’s unique growth algorithm of net-new customers and land/expand strategy that can drive a 30% organic FY24 EBITDA growth is “attractive”, particularly with shares trading at 11.9-times on enterprise value to expected FY24 EBITDA following today’s share price weakness.
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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
