Mizuho analyst Dan Dolev lowered the firm’s price target on Global Payments to $110 from $123 and keeps a Neutral rating on the shares post the Q3 report. The firm’s investigation into U.S. organic growth trends suggests that Global Payments’ excess performance versus Visa in the U.S. may have abated in Q3, despite Global Payments benefiting from a 300 basis point easier comparison tailwind. The analyst continues to express caution on the company’s organic merchant fundamentals.
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Read More on GPN:
- Global Payments price target lowered to $180 from $208 at BMO Capital
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- Global Payments raises FY23 EPS view to $10.39-$10.45 from $10.32-$10.44
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