Global Payments (GPN): Earnings Preview - Oppenheimer
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Oppenheimer analyst, Glenn Greene reiterated his Outperform rating on shares of Global Payments (NYSE: GPN) and expects an in-line 1Q17 report with no surprises.
The Heartland (HPY) integration appears on track and he expects upside to GPN's stated synergy targets. GPN continues to demonstrate momentum across geographies, with a number of levers driving growth (i.e., OpenEdge, Realex, Spain, JVs, etc.). He is encouraged by GPN's growth and margin improvements. Management's expectation for mid-teens EPS growth longer term appears reasonable and possibly conservative to the analyst.
The analyst feels valuation is attractive at ~20x CY17 EPS. No change to the $85 PT.
Shares of Global Payments closed at $75.62 yesterday.
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