Shift4 takeout price could be $130-$138 per share, says DA Davidson

DA Davidson keeps a Buy rating on Shift4 Payments (FOUR) with a $96 price target after Reuters reported Fiserv (FI) and Amadeus IT Group (AMADY) are both interested in acquiring the company and are preparing to submit final offers in the coming weeks. The firm thinks a takeout multiple would need to approximate 17-18 times its 2025 adjusted EBITDA forecast of $778M, which would represent a potential takeover price range of close to $130-$138 per share. Davidson thinks Fiserv, Global Payments (GPN) and Worldpay could have the appetite and financial capability to pursue a deal for Shift4.