Shift4 Payments price target lowered to $110 from $135 at BTIG

BTIG lowered the firm’s price target on Shift4 Payments (FOUR) to $110 from $135 and keeps a Buy rating on the shares. The company’s key verticals are very exposed to consumer spending, but its backlog of new wins and cross-sell efforts should support double-digit growth even if consumer spending proves to be a large headwind this year, the analyst tells investors in a research note. BTIG adds that Shift4 should be able to achieve FY25 double-digit growth in most bear case consumer spending environments.