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Stifel Canada Lowers Lightspeed Commerce Price Target to US$10.00

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Stifel Canada has lowered its price target on the shares of Lightspeed Commerce (LSPD.TO) by US$2.00 to US$10.00, and maintained its hold rating, after the company reported its fourth-quarter results on Thursday.

Net-new business momentum in growth engine markets (North American retail, European hospitality) is requiring a pull-forward of growth investments, which should support a consistent outlook for double-digit location growth in these core markets and drive more stability in overall location count, writes analyst Suthan Sukumar. Organic growth visibility also appears to be improving.

While overall top-line results will remain noisy given the moving pieces with non-core markets and the divestment of Upserve,, underlying KPIs appear to be trending positively, Sukumar adds.

Price: $11.96, Change: $+0.43, Percent Change: +3.73%

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