TD Cowen analyst Bryan Bergin initiated coverage of Global Payments with an Outperform rating and $150 price target. The stock offers favorable risk-reward with growth upside potential in Merchant and Issuer Solutions from secular tailwinds and better margin for positive revisions, while its current valuation “insulates downside”, the analyst tells investors in a research note. Global Payments’ simpler business is following its recent divestitures, while the company’s “subtle pivot” is more palpable for investors under the new CEO, the firm added.
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