Scotiabank downgraded Lightspeed (LSPD) to Sector Perform from Outperform with a price target of $11, down from $17. The company’s exposure to discretionary retail mainly based in the U.S. and hospitality in Europe could lead to downward estimate revisions in the coming quarters on weakened consumer demand, the analyst tells investors in a research note. The firm expects a slower pace of point-of-sale system upgrades for Lightspeed as merchants more carefully consider new purchases.
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