i3 Verticals (IIIV) PT Raised to $42 at BTIG

BTIG analyst Mark Palmer raised the price target on i3 Verticals (NASDAQ: IIIV) to $42.00 (from $37.00) while maintaining a Buy rating.

The analyst commented, "We are reiterating our Buy rating on i3 Verticals (IIIV) while raising our price target to $42 (from $37) based on 18x our FY24E adjusted EBITDA of $87.7mm after the company posted a 1Q21 report featuring top- and bottom-line beats and FY21 financial guidance reflecting management’s expectation that its solid growth would be sustained. IIIV yesterday hosted a conference call during which management provided color on the impact of the announcement of Business Information Systems (BIS) it announced last Friday and its new revenue mix after it executed on eight acquisitions since July."

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