Lightspeed downgraded to Underweight from Neutral at JPMorgan

JPMorgan downgraded Lightspeed (LSPD) to Underweight from Neutral with a price target of $9, down from $10. The company’s higher mix of discretionary spend exposure, including complex retail stores, are subject to tariff uncertainty, the analyst tells investors in a research note. The firm also sees ongoing execution risk from Lightspeed’s restructuring on the back of its strategic review conclusion. This puts above average risk to second half of 2025 growth estimates, so investors should avoid the stock, contends JPMorgan.