B. Riley reiterates a Buy rating on Global Payments (GPN) with a $194 price target following reports that activist investor Elliot Management has taken a sizable stake in the company. The news is a key catalyst for the shares, which are some of the cheapest in the S&P 500 Index, the analyst tells investors in a research note. Riley sees “substantial upside” to its fair value p(rice target target, which it says is based on Global Payments trading at the integrated payments sector median multiple.
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