In a report released yesterday, Andrew Schmitt from Citi maintained a Buy rating on Global Payments (GPN – Research Report), with a price target of $92.00.
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Andrew Schmitt has given his Buy rating due to a combination of factors surrounding Global Payments’ recent performance and strategic direction. The company’s first-quarter earnings call, following the Worldpay transaction announcement, highlighted a strong strategic alignment and growth potential. Schmitt noted that the integration plans are promising, especially with a focus on scalable innovation, which is a significant point of interest for investors.
Additionally, the stability of Global Payments’ core business was emphasized, with trends remaining consistent with previous expectations. The stock has shown a notable recovery of approximately 16% since the deal announcement, outperforming the S&P 500. Although macroeconomic factors remain uncertain, Schmitt sees potential for further stock recovery as integration details become clearer and the core business remains stable. A key upcoming catalyst is the launch of the Genius POS platform for small and medium-sized businesses in the restaurant and retail sectors, which could further enhance investor confidence.
Schmitt covers the Technology sector, focusing on stocks such as Block, Fidelity National Info, and Euronet Worldwide. According to TipRanks, Schmitt has an average return of 0.0% and a 45.21% success rate on recommended stocks.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $90.00 price target.
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