Truist lowered its price target for Shift4 Payments while maintaining a Hold rating amid adjusted earnings projections.
Truist reduced its price target for Shift4 Payments (FOUR) to $46 from $50, citing revisions to core metrics projections. The firm maintained a Hold rating on the stock despite the adjustment.
The move follows updated earnings per share forecasts, now expected in the low single digits. Truist anticipates a strong second quarter, driven partly by the ongoing World Cup event in North America.
Shift4 Payments recently expanded its Pay with Crypto solution to include Tether (USDT-USD) payments, allowing merchants to settle transactions in local currency without handling digital assets.