BMO Capital lowered the firm’s price target on Global Payments to $122 from $126 and keeps a Market Perform rating on the shares. The company’s s much-anticipated Investor Day was accompanied by volatility, with the management having guided 2025 below expectations without explicitly reiterating its 2024 outlook, leaving investors concerned that a deceleration through the second half of the year was implied, the analyst tells investors in a research note. Capital management was a key positive of the presentation with higher buybacks and upside from dispositions, but lower free cash flow conversion was a “slight negative”, BMO added.
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