UPDATE: Nomura Securities Downgrades Global Payments (GPN) to Neutral

(Updated - April 3, 2012 9:53 AM EDT)

Nomura Securities downgraded Global Payments (NYSE: GPN) from Buy to Neutral with a $46 price target (down from $57).

Analyst Bill Carcache said he is more cautious on the company's revenue growth outlook "given near-term headwinds relating to the breach and longer-term headwinds associated with the move to EMV and PIN/signature convergence."

"We see risks to margins and do not believe management will achieve its margin expansion targets. We estimate potential downside to forward EPS estimates of 7-28% depending on the revenue differential between PIN debit and signature credit," he continued.

2012E/2013E GAAP EPS goes down from $3.20/ $3.56 to $3.13/ $3.49 vs Street $3.22/ $3.63, respectively.

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 $45.74 yesterday.

---

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

---

You May Also Be Interested In

• Nomura/Instinet Upgrades Genting Singapore (GENS:SP) (GIGNY) to Neutral
• Travel Food Services (TRAVELFO:IN) PT Raised to INR1,600 at ICICI Securities
• Stantec Inc. (STN:CN) (STN) PT Lowered to Cdn$169 at Desjardins