BTIG raised the firm’s price target on Shift4 Payments (FOUR) to $118 from $105 and keeps a Buy rating on the shares. The company’s Q3 volume and net revenue results were short of Street estimates, the analyst tells investors in a research note. The firm says that while management did not provide fiscal 2025 guidance, they hinted at confidence in its outlook. BTIG thinks investors will ultimately walk away from the conference call positive on Shift4’s growth outlook despite the light Q3 result. Shift4 remains a BTIG top pick.
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Read More on FOUR:
- Shift4 Payments price target raised to $112 from $100 at BofA
- Morning Movers: Shopify surges and Shift4 sinks following Q3 results
- Shift4 Payments sees Q4 adjusted EBITDA $205M-$216M
- Shift4 Payments sees FY24 adjusted EBITDA $677M-$688M
- Shift4 Payments reports Q3 adjusted EPS $1.04, consensus $1.07
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