As previously reported, Stephens downgraded Shift4 Payments (FOUR) to Equal Weight from Overweight with a price target of $50, down from $65. Despite a discounted valuation, the firm sees “a low probability to multiple expansion” in the absence of clean beat and raise quarters and views the Q1 setup as complicated by the impact of the Iran conflict on Global Blue based on the impact of Middle East tourism on luxury sales in Europe, the analyst tells investors in a preview.
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