- Global Payments has thrived despite the presence of disruptive fintech startups, delivering 22% annualized returns over the past decade.
- Management is unfazed by the market’s anxiety toward BNPL and disruptive industry forces; BNPL is not new and Global Payments powers over a billion such transactions per year.
- GPN’s shrinking stock price has decoupled from fundamentals, offering investors an opportunity to buy a quality business at a modest price.
- Reaching the lower end of management guidance and repricing to a 25x multiple could produce 73% two-year returns if the company overcomes its rivals in the competitive payments industry.
- Adding GPN to the Prime Portfolio and updating on other recent activity.
For further details see:
Global Payments - Unfazed By BNPL And Disruptive Fintech