In a report released yesterday, Jason Kupferberg from Bank of America Securities maintained a Buy rating on Global Payments (GPN – Research Report), with a price target of $165.00.
Jason Kupferberg has given Global Payments a Buy rating due to a combination of factors including the company’s solid growth profile, competitive positioning in the market, and what is perceived to be an attractive valuation. Kupferberg notes that the fourth quarter results were in line with expectations, and the guidance for 2024 has been set with a conservative outlook, which is deemed prudent in the current economic climate. The company’s increased share buyback authorization to $2 billion from approximately $1 billion further underscores confidence in its financial health and prospects for growth.
From a segment-level perspective, Kupferberg finds the outlook for Global Payments to be quite achievable, with expectations for adjusted net revenue and EPS growth that could serve as a suitable proxy for the medium-term outlook. Additionally, he points to a return to a more balanced capital allocation strategy in 2024, with a focus on both buybacks and mergers and acquisitions that promise competitive returns. The potential for modest portfolio pruning could also bode well for the company’s focus and efficiency moving forward.
In another report released today, TD Cowen also reiterated a Buy rating on the stock with a $160.00 price target.
See the top stocks recommended by analysts >>
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GPN in relation to earlier this year.
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Global Payments (GPN) Company Description:
Georgia-based Global Payments, Inc. provides payment technology and software solutions for card, electronic, check, and digital-based payments in North America, Europe, the Asia-Pacific, and Latin America. The company operates through the following segments: Merchant Solutions, Issuer Solutions and Business & Consumer Solutions.
Read More on GPN:
