Deutsche Bank Reinstates Coverage on Global Payments (GPN) at Buy
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Price: $93.05 -1.88%
Rating Summary:
23 Buy, 24 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
23 Buy, 24 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank reinstated coverage on Global Payments (NYSE: GPN) with a Buy rating and a price target of $54.00.
"With the closing of the APT deal, we are reinstating coverage with a Buy rating and $54 price target. APT’s technology edge, high growth, low attrition, along with 700 VAR relations strengthens GPN’s position in the VAR channel," said analyst Bryan Keane.
According to a Deutsche Bank report, the APT acquisition is 50 bps accretive to GPN’s 2013 operating margins and is expected to be margin and EPS accretive in 2014.
"GPN is well positioned for a 2H13 recovery from new product introductions, pricing improvements, easier comps, and potential f/x tailwinds," said Keane.
Deutsche bank maintained 2013 EPS at $3.60 and raised 2014 EPS by $0.05 to $3.97.
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 $42.96 yesterday.
"With the closing of the APT deal, we are reinstating coverage with a Buy rating and $54 price target. APT’s technology edge, high growth, low attrition, along with 700 VAR relations strengthens GPN’s position in the VAR channel," said analyst Bryan Keane.
According to a Deutsche Bank report, the APT acquisition is 50 bps accretive to GPN’s 2013 operating margins and is expected to be margin and EPS accretive in 2014.
"GPN is well positioned for a 2H13 recovery from new product introductions, pricing improvements, easier comps, and potential f/x tailwinds," said Keane.
Deutsche bank maintained 2013 EPS at $3.60 and raised 2014 EPS by $0.05 to $3.97.
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 $42.96 yesterday.
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