Shift4 Payments Shares Pop As DA Davidson Initiates Coverage

DA Davidson analyst Christopher Brendler initiated coverage of Shift4 Payments Inc FOUR with a Buy rating and $70 price target (39.8% upside).
The shift in market sentiment amid the Fed and geopolitical uncertainty has created "rare buying opportunities" in "compelling" growth stories, Brendler contended.
Shift4 Payments "fits the bill" of his preferred payments platforms with leverage to the recovery and an "amazing underlying growth story" likely to improve upon the normalization of its core hospitality vertical.
Earlier this month, the company posted a Q4 FY21 revenue growth of 89% year-on-year as the end-to-end payment volume climbed 97% Y/Y.
Shift4 also agreed to acquire Finaro, a cross-border eCommerce payments provider, and The Giving Block, specializing in cryptocurrency fundraising, likely to contribute over $15 billion of end-to-end payment volume in 2023.
Price Action: FOUR shares traded higher by 6.98% at $48.97 in the market session on the last check Thursday.