Global Payments price target lowered to $158 from $172 at RBC Capital

RBC Capital lowered the firm’s price target on Global Payments to $158 from $172 but keeps an Outperform rating on the shares. The company’s guidance supports the firm’s positive thesis that Merchant Solutions is continuing to mix shift towards faster growing, higher margined tech-enables solutions and that the initial investment cycle necessary to synch the recently acquired EVO and its international markets appears to have been largely absorbed with cost synergies, the analyst tells investors in a research note.