JPMorgan downgraded Global Payments to Neutral from Overweight with a price target of $124, down from $170, following a period of restriction. The shares "appear cheap on many measures," but patience is required for management to execute and lift certain weights on the stock, the analyst tells investors in a research note. The weights that limit share upside include the company’s high leverage at 3.75 times and above average deal cost synergy targets, the analyst tells investors in a research note. The firm sees "little margin for error on a name that is accustomed to positive earnings revisions."
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on GPN:
- Global Payments upgraded to Buy from Neutral at Goldman Sachs
- Global Payments reinstated with an Overweight at Barclays
- FIS price target lowered to $60 from $65 at Jefferies
- Global Payments price target raised to $120 from $115 at Mizuho
- Billionaire David Einhorn Loads Up on These 2 Stocks — Here’s Why They Could Bounce