Global Payments price target raised to $123 from $100 at Mizuho

Mizuho analyst Dan Dolev raised the firm’s price target on Global Payments to $123 from $100 and keeps a Neutral rating on the shares post the Q2 results. Global’s merchant acquiring organic growth is a key controversy and investors rewarded the solid 9% organic volume growth in Q2 with a 10% stock rally, the analyst tells investors in a research note. The firm says assessing the quarterly filing shows that although Global Payments’ Americas organic growth is slower than overall organic growth, the volume spread versus Visa improved by an estimated 300 basis from last quarter.