Global Payments remains a top idea after results at Citi

Citi says Global Payments delivered Q3 net revenues and earnings slightly above expectations while overcoming worsening currency. The company also reiterated sales expectations and raised the mid-point of the earnings outlook modestly, the analyst tells investors in a research note. The firm says that while Global Payments’ cash performance has been affected in 2023 by certain tax items, its underlying cash generation “remains robust.” The stock remains one of the analyst’s top ideas.