Shift4 Payments (FOUR) PT Lowered to $55 at Evercore ISI

Evercore ISI analyst Adam Frisch lowered the price target on Shift4 Payments (NYSE: FOUR) to $55.00 (from $80.00) while maintaining a In Line rating.

The analyst comments "PM summary: A disappointing outlook (even on lower expectations), a pull back in disclosure on organic growth and refusal to offer merchant conversion data added material credibility to the roll-up bear thesis, and a very defensive mgmt team on the earnings and sell-side follow up calls all drove additional weakness post the print. Unlike GPN which removed their top-end of revenue guidance but kept everything else generally the same, FOUR's outlook was lower up and down the income statement and the narrative really didn't hold together on their explanation. Today's print is far from a "clearing event" and will likely prevent material and sustainable near-term upside."

You May Also Be Interested In

• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Stripe, Advent In Talks To Buy Paypal - WSJ
• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating