The Globe and Mail reports in its Saturday edition that RBC analyst Daniel Perlin has reaffirmed his "outperform" ranking for Lightspeed Commerce. The Globe's David Leeder writes that Mr. Perlin trimmed his share target back by $3 (U.S.) to $21 (U.S.). Analysts on average target the shares at $20.75 (U.S.). The Globe reports that Mr. Perlin expects the first half of 2023 to be a "transition period" for Lightspeed as it implements a new payments unification strategy. On Thursday, Lightspeed posted fourth quarter earnings and guidance, which included a weaker-than-anticipated estimates for the next quarter. Mr. Perlin says in a note: "Results came in as expected; however, management provided F1Q24 guidance that was below Street expectations but in-line with ours, that contemplates both challenged retail verticals, and management's announced unified payments strategy, which indicates an aggressive shift toward converting new and existing customers to attach Lightspeed Payments. We view the success of this strategy as a key function to achieve the adjusted EBITDA breakeven management is targeting for FY24." Mr. Perlin expects adjusted earnings before interest, taxes, depreciation and amortization to remain negative.