As previously reported, SMBC Nikko analyst Andrew Bauch upgraded Shift4 Payments to Outperform from Neutral with a price target of $85, up from $75. The firm had previously been skeptical on the story in late 2022 as it felt investors were overzealous on 2023 profitability expectations, contributions from new verticals and were potentially overlooking financial reporting complexities, but management "satisfied" last quarter on all of those concerns. The optimism around profitability upside "appears justified," while the momentum in new logos and verticals is "showing no signs of slowing," the analyst tells investors.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on FOUR:
- Shift4 Payments upgraded to Outperform from Neutral at SMBC Nikko
- Baltimore Orioles select Shift4 to process payments for ballpark concessions
- Shift4 Payments call volume above normal and directionally bullish
- Shift4 Payments price target raised to $87 from $80 at Truist
- Shift4 Payments management to meet with Truist