11:12 AM EDT, 08/09/2024 (MT Newswires) -- Shift4 Payments ( FOUR ) second-half growth ramp is "well supported" due to a healthy pipeline, global expansion, and seasonality, Morgan Stanley said in a Friday note.

The recent acquisitions of Revel and Vectron are "consistent" with the company's strategy, Morgan Stanley said, adding that Revel should contribute roughly $15 million in adjusted earnings before interest, taxes, depreciation, and amortization in H2.

"Vectron's synergies will likely take longer to unlock, especially given a longer closing and delisting process in Germany," the note said.

For 2024, Morgan Stanley expects Shift4 to report adjusted earnings of up to $3.90 per share.

The Wall Street firm raised Shift4 Payments' ( FOUR ) price target to $70 from $66 and maintained an equal-weight rating on the stock.

Price: 71.09, Change: +0.39, Percent Change: +0.55