Global Payments price target lowered to $100 from $110 at Mizuho

Mizuho lowered the firm’s price target on Global Payments to $100 from $110 and keeps a Neutral rating on the shares. The firm’s analysis suggests management’s organic growth guidance “may be overly ambitious.” It estimates that the deceleration in Visa’s U.S. credit volumes in April and May could weigh on Global Payments’ ability to achieve management’s 9%-10% merchant acquiring organic growth guidance for 2023, potentially driving a downward revision of the range.