Truist analyst Andrew Jeffrey raised the firm’s price target on Global Payments to $135 from $120 and keeps a Buy rating on the shares as part of a broader research note on FinTech names. The analyst believes that investors should focus on relative 2022 FinTech outperformers but also contends that "a catalyst is needed" for relative 2023 outperformance and sees M&A as the most likely valuation driver. Jeffrey adds that Global Payments stands to benefit from a "restructuring-driven value creation".
Published first on TheFly
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Read More on GPN:
- Global Payments upgraded to Overweight from Equal Weight at Morgan Stanley
- Global Payments price target lowered to $125 from $143 at Wells Fargo
- Global Payments price target lowered to $115 from $140 at KeyBanc
- Global Payments price target lowered to $145 from $150 at Wolfe Research
- Global Payments downgraded to Underperform from Neutral at Exane BNP Paribas
