Wedbush Starts Global Payments (GPN) at Outperform

September 9, 2016 7:22 AM EDT
Get Alerts GPN Hot Sheet
Price: $77.45 -0.37%

Rating Summary:
    19 Buy, 14 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
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Wedbush initiates coverage on Global Payments (NYSE: GPN) with a Outperform rating and a price target of $85.00.

Analyst Moshe Katri commented, "We are initiating coverage with an OUTPERFORM and $85 price target, factoring the possibility of accelerating the top line combined with margin expansion opportunities. Despite the stock's robust performance during the past few years, we believe the dramatic changes in GPN's business model (material drop in ISO-based revenue, the additions of integrated solutions) propelled by recent acquisitions combined with the company's non-US end markets could provide incremental growth and scale opportunities. We believe GPN is well-positioned to post high-single-digit organic revenue growth and mid-teens adj. EPS growth in the next few years. GPN's stock currently trades at 21.8X our projected FY17E adj. EPS."

For an analyst ratings summary and ratings history on Global Payments click here. For more ratings news on Global Payments click here.

Shares of Global Payments closed at $76.27 yesterday.

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