The Globe and Mail reports in its Friday, Sept. 27, edition that BMO Capital Markets analyst Thanos Moschopoulos is sticking with his "outperform" call on Lightspeed Commerce. The Globe's David Leeder writes in the Eye On Equities column that Mr. Moschopoulos gave his share target a $2 boost to $20 (all figures U.S.). Analysts on average target the shares at $17.63. Mr. Moschopoulos believes that Lightspeed could be worth considerably more in a takeover. He points to the potential scarcity value associated with Lightspeed's size and scale, its depressed valuation, and its future earnings power as payments penetration continues to ramp up. Lightspeed has hired JPMorgan to run a review of the business that includes a potential sale to a rival tech company or private equity fund. Mr. Moschopoulos says in a note: "While the stock has struggled, the business has continued to grow. ... The likelihood of a takeout has now increased, but isn't a foregone conclusion (i.e. a potential takeout multiple might well be higher). There's a wide range of multiples for precedent transactions (and all of these businesses are quite different than Lightspeed); but most have been higher than our target multiple."