Goldman Sachs Downgrades Global Payments (GPN) to Neutral

Goldman Sachs analyst, James Schneider, downgraded Global Payments (NYSE: GPN) from Buy to Neutral without changing the price target of $117.50. The downgrade comes as the bullish trade has played out, and the analyst now sees fewer near-term catalysts with modest upside to Street estimates in 2018.

The analyst stated "we continue to see Global Payments delivering best-in-class growth driven by its software-led payments strategy, along with accretive M&A given management’s strong acquisition track record. Our bullish outlook has been driven by the view that the stock’s multiple would expand as the Street had not appreciated
Global’s ability to sustain ~10% organic growth in its core acquiring business".

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 $117.50 yesterday.

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