BMO Capital lowered the firm’s price target on Repay Holdings (RPAY) to $5 from $7 and keeps a Market Perform rating on the shares. The company’s organic growth appears to be stabilizing following the previously announced client losses, and Repay sees a path to accelerating gross profit growth, though following its strategic review, the firm is reducing its target multiple on the stock to 6-times from 8-times, the analyst tells investors in a research note. BMO adds it is concerned that it will take longer-than-expected to meaningfully accelerate core gross profit growth.
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