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.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LSPD:
- Lightspeed price target lowered to $12 from $13 at Barclays
- Largest borrow rate increases among liquid names
- Lightspeed price target lowered to $9 from $15 at Redburn Atlantic
- Lightspeed price target lowered to $12 from $14 at Morgan Stanley
- Lightspeed downgraded to Underweight from Neutral at JPMorgan