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Citi Reaffirms Shift4 Payments’ Buy Rating, Shares Gain

Citi analysts maintained their Buy rating and a price target of $92 for Shift4 Payments (NYSE:FOUR), highlighting a renewed investor interest in Shift4, sparked by Nuvei’s recent acquisition news and the closing of the first quarter. The company’s shares closed nearly 3% higher on Wednesday.
The analysts presented two key observations: Firstly, the frequent pairing of Shift4 and Nuvei by investors may now benefit Shift4 as Nuvei shifts to a different investor base post-acquisition. Secondly, despite the temporary stock dip following CEO Isaacman’s comments on unattractive offers for Shift4, the analysts believe the market reaction has been excessive. The analysts reaffirmed confidence in Shift4’s standalone value and prospects.

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