Goldman Sachs analyst Will Nance upgraded Global Payments to Buy from Neutral with an unchanged price target of $127, which represents 20% upside. The shares have been weak year-to-date and, in particular, in recent weeks following the stress in the regional bank space in March, the analyst tells investors in a research note. However, Global Payments is pointing towards better sales trends across both segments of the company, and has made significant progress in simplifying the business through strategic acquisitions and capital allocation, the firm contends. Thus, it sees the recent selloff as a buying opportunity. The stock’s risk/reward is "highly attractive at current levels," Goldman writes.
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