Shift4 Payments (NYSE:FOUR) shares rose more than 2% on Friday after BofA Securities analyst raised their price target on the company to $100 from $88, reiterating their Buy rating.
The analysts expressed optimism about the company’s long-term growth, driven by end-to-end conversions, expansion into new verticals, and share gains. Shift4’s strong second-quarter performance, with revenues and adjusted EBITDA surpassing the top end of guidance, contributed to the upward revision. The company’s 2024 outlook was also raised, reflecting contributions from recent acquisitions and organic growth, positioning Shift4 for continued solid performance.