Nomura Securities Starts Global Payments (GPN) at Reduce

Nomura Securities initiates coverage on Global Payments (NYSE: GPN) with a Reduce rating and a price target of $65.00.

Analyst Dan Dolev commented, "We initiate coverage of Global Payments Inc. (GPN) with a Reduce rating and a $65 target price. GPN has a history of ambitious targets and mixed results. While (relatively) new management vows to fix prior drags by lowering ISO exposure and focusing on direct revenue, other old practices, such as overly optimistic long-term targets and selective disclosures, linger. GPN remains a dominant acquirer, but, on balance, we see more hurdles than positives, including less stellar growth in legacy NA and HPY and a short-lived EU interchange benefit. Strong margin growth is a key positive, but high M&A synergy guidance leaves little room for upside surprise."

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 $76.92 yesterday.

You May Also Be Interested In

• Lucid Capital Markets Starts Eloxx Pharma (ELOX) at Buy
• Piper Sandler Starts Madison Square Garden Entertainment (MSGE) at Neutral
• Citi cuts Lowe's price target to $260, keeps Buy rating