Monness Crespi raised the firm’s price target on Global Payments (GPN) to $135 from $130 and keeps a Buy rating on the shares after the company reported Q2 revenue that was inline with expectations and EPS that was ahead of the Street consensus. Entering earnings, multiples were implying “this was a business in terminal decline,” but the firm doesn’t agree with that view and thinks the market is “slowly marking up the sustainable growth rate” as well as “giving more credibility to topline acceleration.”
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