Barclays analyst Ramsey El-Assal raised the firm’s price target on Global Payments to $135 from $125 and keeps an Overweight rating on the shares. The sizable majority of the company’s merchant volumes flow through tech-enabled and digital channels, but investors struggle to see this, given its complex channel-related disclosures, the analyst tells investors in a research note. The firm believes Global Payments “remains materially dislocated” at current valuation levels.
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