UPDATE: Nomura Securities Downgrades Global Payments (GPN) to Neutral
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Price: $93.49 +1.31%
Rating Summary:
23 Buy, 24 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
23 Buy, 24 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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(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.
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.
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