Morgan Stanley analyst James Faucette upgraded Global Payments to Overweight from Equal Weight with a price target of $135, up from $124. The analyst cites a more favorable competitive backdrop, attractive valuation, the company’s "better recession resilience than feared" and its consistent execution on strategic acquisitions for the upgrade. The competitive environment is changing to favor the incumbents in the payments space, Faucette tells investors in a research note. He believes the shares offer a "compelling valuation" at current share levels.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on GPN:
- Global Payments price target lowered to $125 from $143 at Wells Fargo
- Global Payments price target lowered to $115 from $140 at KeyBanc
- Global Payments price target lowered to $145 from $150 at Wolfe Research
- Global Payments downgraded to Underperform from Neutral at Exane BNP Paribas
- Global Payments price target lowered to $120 from $135 at Truist