Goldman Sachs raised the firm’s price target on Global Payments to $128 from $127 and keeps a Buy rating on the shares. The firm sees a mixed outlook for consumer spending and payments companies for the remainder of the year, but with Payments stocks being a source of funds against more bullish calls on less macro sensitive sectors the firm has seen multiples for “growthier, less profitable names” expand relative to larger, more defensive names in its coverage, the analyst tells investors in an earnings preview note for the group.
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