Keefe Bruyette analyst Sanjay Sakhrani last night downgraded Shift4 Payments (FOUR) to Market Perform from Outperform with an unchanged price target of $112. The company’s founder CEO Jared Isaacman is key to the investment thesis, and following news of a potential transition Isaacman has been nominated for the position of NASA Administrator, it may be hard to convince investors that the story is unchanged, the analyst tells investors in a research note. The firm says it may take at least until the second half of 2025 for the new CEO “to settle in and earn investor confidence.” Keefe views the potential CEO transition as a likely overhang on the shares in the near term.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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