Global Payments price target raised to $83 from $79 at Truist

Truist raised the firm’s price target on Global Payments (GPN) to $83 from $79 and keeps a Hold rating on the shares as part of a broader research note previewing Q2 earnings in FinTech. The setup for the FinTech sector should be solid, and the group has underperformed of late with a 2% year-to-date gain vs. 6% for the S&P 500, the analyst tells investors in a research note. Stablecoins have been the hot topic for payments/FinTech investors over the past month, and Truist expects discussions around crypto/stablecoins to dominate some earnings calls as management teams will likely provide their view on how stablecoins could potentially impact the industry, the firm added.