Global Payments downgraded to Neutral from Buy at Seaport Research

Seaport Research downgraded Global Payments to Neutral from Buy without a price target following the investor day. While the medium-term guidance provides investors with some clarity, the outlook guided was below expectations, the analyst tells investors in a research note. Global Payments sounds like it is “playing catch-up with its competition,” particularly in its key merchant segment, the analyst tells investors in a research note. Seaport finds the stock close to fair value on its revised estimates.