Shift4 Payments price target lowered to $65 from $73 at RBC Capital

RBC Capital lowered the firm’s price target on Shift4 Payments (FOUR) to $65 from $73 and keeps an Outperform rating on the shares. Despite expected pressure in its tax-free shopping business given its exposure to European travel from the Middle East, overall results and guidance reiteration by Shift4 was better than feared, the analyst tells investors in a research note. RBC adds however that it is reducing its price target to reflect the re-rating in the fintech universe.