Truist analyst Andrew Jeffrey recommends investors add to Shift4 Payments positions following a negative report issued by a firm short the stock that it refers to as "another spurious bear raid." The firm, which refers to Shift4 as "an attractive growth franchise and potential acquisition target," thinks this morning’s negative report is "simply another opportunistic attack on a fast-growing FinTech. While the company has been active in M&A and "at one point had relatively aggressive accounting," this "has subsequently been cleaned up," according to Truist, which keeps a Buy rating and $87 price target on Shift4 shares.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on FOUR:
- Shift4 Payments accused of ‘aggressive financial maneuvers’ in short report
- Shift4 Payments call volume above normal and directionally bullish
- Shift4 Payments initiated with an Equal Weight at Stephens
- Shift4 Payments price target raised to $90 from $77 at Goldman Sachs
- SMBC Nikko upgrades Shift4 Payments, says profitability optimism ‘justified’