Wells Fargo analyst Andrew Bauch lowered the firm’s price target on Global Payments (GPN) to $77 from $105 and keeps an Equal Weight rating on the shares. Following the company’s announcement of a 3-way mega deal with FIS (FIS)/GTCR, shares were under significant pressure as bull/bear debates ensued, the firm notes. Evidently, the bears won the round as many questioned economics, future execution potential, and long-term growth, Wells adds.
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