Par Technology price target lowered to $42 from $77 at Benchmark

Benchmark lowered the firm’s price target on Par Technology (PAR) to $42 from $77 and keeps a Buy rating on the shares. Shares have “endured a brutal stretch” with the stock’s price having fallen by more than 50% since January 12, the analyst noted. However, concerns that AI could undermine the business model “appear overstated” and a “narrative-changing” McDonald’s contract win “still appears plausible,” the analyst tells investors.