Global Payments price target lowered to $156 from $160 at Raymond James

Raymond James lowered the firm’s price target on Global Payments to $156 from $160 and keeps an Outperform rating on the shares. Global Payments reported "solid" Q1 results that featured 2% revenue and 4% EPS upside relative to the Street, and the company raised its FY23 revenue and EPS growth outlook, the analyst tells investors in a research note. The announced CEO transition timing was "surprising," the firm says, but it sees a path for $12+ in FY24 EPS.