JPMorgan lowered the firm’s price target on Global Payments (GPN) to $85 from $115 and keeps a Neutral rating on the shares. The company’s Q1 results were consistent with the preliminary view given mid-April, while underlying trends were healthy and better than key peer results, driving much of the focus back on the pending Worldpay acquisition, the analyst tells investors in a research note. The firm remains “hesitant to underwrite accelerating growth” in the combined entity given the complexity of the integration and without better understanding of the steps that have been taken to improve Worldpay’s growth.
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Read More on GPN:
- Global Payments price target raised to $90 from $80 at KeyBanc
- Hold Rating Maintained for Global Payments Amid Uncertainty and Merger Prospects
- Buy Rating on Global Payments: Strategic Growth and Innovation Drive Positive Outlook
- Global Payments price target raised to $81 from $78 at Keefe Bruyette
- Global Payments’ Strategic Acquisition of Worldpay: A Catalyst for Growth and Synergy Realization
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