Repay Holdings price target lowered to $4 from $5 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Repay Holdings (RPAY) to $4 from $5 and keeps an Equal Weight rating on the shares after the company’s Q3 report, noting that mix an ongoing mix shift toward larger enterprise clients with volume discounts and an increased mix of revenue from ACH and check volumes impacts growth, while underlying drivers remain largely stable.