RBC Capital raised the firm’s price target on Global Payments to $172 from $154 and keeps an Outperform rating on the shares. The company’s FY24 guidance was “appropriately conservative”, the analyst tells investors in a research note. The firm also continues to see good indications that the combination of tech-enabled solutions, new secular growth markets, and a strong backlog/pipeline support a mid-term growth algorithm of high-single-digit revenue growth and double-digit to mid-teens EPS growth for Global Payments, RBC added.
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