i3 Verticals price target raised to $27 from $22 at Morgan Stanley

Morgan Stanley raised the firm’s price target on i3 Verticals (IIIV) to $27 from $22 and keeps an Equal Weight rating on the shares. Given stabilizing underlying trends and increased M&A capacity, the firm is “incrementally confident” in i3’s ability to achieve its high-single digit organic growth outlook, the analyst tells investors after Q1 results broadly beat expectations and the FY25 outlook was reaffirmed.