Global Payments 2024 guidance looks ‘conservative,’ says Monness Crespi

Monness Crespi notes that Global Payments delivered an in-line Q4 print, but issued calendar year 2024 revenue and EPS guidance below the Street’s and firm’s estimates. However, the firm views the guidance as “conservative,” related to the timing of EVO acquisition synergy realization, primarily around pricing, cross-sell opportunities and “prudent caution around the consumer,” the analyst tells investors. The firm, which is “tweaking estimates” for 2024 and 2025, reiterates a Buy rating and $175 price target on Global Payments shares.