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Update: Seaport Global Securities Downgrades Shift4 Payments to Neutral From Buy

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(Updated to include Seaport's commentary)

Seaport Global Securities downgraded Shift4 Payments (FOUR) to neutral from buy, expecting softer discretionary spend and Global Blue headwinds ahead.

The firm's guidance now looks weaker than it had previously anticipated, with Global Blue the main callout, analyst Jeff Cantwell wrote in a Thursday note, adding that it no longer sees a path to a $1 billion exit run-rate in adjusted EBITDA next year.

Shift4 Payments has an average rating of overweight and mean price target of $64.14, according to analysts polled by FactSet.

Price: $48.88, Change: $+0.87, Percent Change: +1.80%

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