PAR Technology rises after Stephens upgrades to 'overweight'

PAR Technology

13/06/2024 12:26

** Shares of restaurant point-of-sale (POS) provider PAR
Technology  PAR.N  rise 1.4% to $46 premarket
    ** Stephens upgrades PAR to "overweight" rating from
"equal-weight"; raises PT to $60 from $46, a 32.2% premium to
stock's last close 
    ** Brokerage says PAR well positioned to capitalize on
demand for cloud-native POS and data-driven loyalty solutions
    ** Discounted valuation reflects the lack of current
profitability but see progress towards positive adjusted EBITDA
in Q3, brokerage says 
    ** Seven of 10 brokerages rate the stock "buy" or higher and
three "hold"; their median PT is $58.50 - LSEG
    ** As of last close, PAR shares up 4.2% YTD
    

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))