Nomura Securities Maintains a 'Buy' on Global Payments (GPN); Q2 Preview

Nomura Securities maintains a 'Buy' on Global Payments (NYSE: GPN) price target of $57.00.

Nomura analyst, Bill Carcache, said, "Global Payments will report results for the Nov 2011 quarter after the close on Thursday, January 5. Although GPN remains one of our top longer-term picks in the payments space, we’re also bullish on shares going into this quarter’s results. We’re looking for 2Q12 EPS of $0.81 vs. consensus of $0.80 and expect to see multiple expansion as a number of positive catalysts play out. Key near-term catalysts include: 1) the redeployment of Durbin dollars into a combination of investment opportunities and/or an increase in share repurchase activity, 2) elimination of network exclusivity, and 3) reduced pricing pressure to help close the gap between revenue and transaction growth. With shares currently trading at less than 14x forward earnings, more than one standard deviation below their long-term average, we view current valuation levels as attractive."

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 $48.15 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Bernstein SocGen Group Reiterates Outperform Rating on JD.com, Inc (JD), 'very cheaply valued'
• SanDisk upgraded at JPMorgan after investor day; shares climb