Credit Suisse analyst Timothy Chiodo raised the firm’s price target on Global Payments (GPN) to $135 from $120 and keeps a Neutral rating on the shares. The firm notes Global Payments delivered a relatively in-line Q2 2023 result, with the Merchant segment demonstrating stable organic revenue and volume trends, which compares favorably to Visa (V) and MasterCard (MA) volumes that grew 6% in the U.S. and 9% and 13.5% FXN globally, respectively. Full year 2023 guidance was little changed, with the slight outperformance in Q2 essentially being added in the form of a raised low-end of the range for both revenue and EPS, Credit Suisse points out.
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