Global Payments downgraded to Neutral from Outperform at Baird

Baird analyst David Koning downgraded Global Payments to Neutral from Outperform with a price target of $118, down from $144. The analyst is not sure what positive near-term catalysts could come to get the stock much above $100-$110 in coming months. The stock’s valuation is attractive, but the next impactful data point could be in early February with the 2023 guidance, and "several moving parts could create a conservative guide," Koning tells investors in a research note.