BUZZ-PAR Technology rises after Stephens upgrades to 'overweight'

Reuters06-13

** Shares of restaurant point-of-sale $(POS.UK)$ provider PAR Technology 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;))

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