Global Payments price target lowered to $180 from $208 at BMO Capital

BMO Capital analyst James Fotheringham lowered the firm’s price target on Global Payments to $180 from $208 and keeps an Outperform rating on the shares. The firm remains “excited” about the set-up for Global Payments shares, as organic revenue growth demonstrates consistency while leverage ratios should fall within target range by year end 2023. Meanwhile, BMO lowered its out-year estimates by 2%-4% and trimmed its price target due to lower expected buybacks.