Citi Reiterates Buy Rating on Shift4 Payments (FOUR)

Citi analyst Ashwin Shirvaikar reiterated a Buy rating and $92.00 price target on Shift4 Payments (NYSE: FOUR).

The analyst commented, "We have received a modest step up in FOUR interest, driven by the Nuvei deal announcement and the close of the first quarter. We make two points: (1) From a positioning perspective, we note that FOUR and NVEI were frequently paired by investors and the reversal of this pair trade should result in upside for FOUR as NVEI ownership transitions to different (i.e., event-based) investors. (2) Positioning aside, we anticipated temporary weakness in FOUR stock after CEO Isaacman indicated that inbound interest for FOUR itself had not resulted in acceptable offers...but that has been overdone, in our view, and we continue to believe in the merits of owning FOUR on a standalone basis."

For an analyst ratings summary and ratings history on Shift4 Payments click here. For more ratings news on Shift4 Payments click here.

Shares of Shift4 Payments closed at $67.11 yesterday.

You May Also Be Interested In

• Jefferies Starts Buzzi Unicem SpA (BZU:IM) (BZZUY) at Hold
• RBC Capital Downgrades Woolworths Group Ltd (WOW:AU) to Underperform
• Jefferies Upgrades Friedrich Vorwerk Group SE (VH2:GR) to Hold