I3 Verticals: Jumps as brokerage upgrades to 'strong buy'

i3 Verticals

23/09/2020 18:34

** Shares of payment processor  IIIV.O  jump 9.2% to $25.13
    ** Brokerage Raymond James upgrades rating to "strong buy"
from "outperform"
    ** IIIV stock has the potential to head higher despite a 14%
fall after its recent $76 mln equity offering - Raymond James
    ** Brokerage says payment volumes are back to pre-pandemic
levels and IIIV is well-positioned to benefit from the
acceleration of cash to card transaction, driven by COVID-19 
    ** Current avg. rating on stock is "strong buy" and median
PT is $33.50 - Refinitiv data
    ** Up to Tuesday's close, stock had fallen ~19% this year

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))