2023-04-19 11:44:19 ET
- Baird analyst David Koning upgraded shares of Global Payments ( NYSE: GPN ) to Outperform from Neutral on the basis that industry trends for the first quarter of 2023 appear "quite good."
- "Macro has thus far held up quite well for payments in 2023, and we believe GPN is maintaining share, with the EVO acquisition providing the likelihood of better growth" and some opportunity for optimization, Koning wrote in a note to clients.
- He projects the company's EPS to see mid-teens EPS growth in 2024 and 2025, compared with consensus estimates of 15.4% and 17.9% (seven estimates), respectively.
- The Outperform rate diverges from the Quant system rating of Hold and agrees with the average Wall Street analyst rating of Buy.
- On Tuesday, J.P. Morgan turned Neutral on GPN on limited catalysts.
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Global Payments raised to Outperform at Baird, citing 'quite good' industry trends