Deutsche Bank Raises Global Payments PT To $85 On The Back Of Strong Fundamentals
In a research report sent to investors Wednesday, Deutsche Bank analyst Bryan Keane reiterated a Buy rating on Global Payments (NYSE:GPN) and raised his price target to $85, following meetings with management.
Keane wrote, “Yesterday, we spent the day marketing in Boston with CEO Jeff Sloan and CFO Cameron Bready who expressed improved fundamental momentum in the business. After coming off a stellar 1Q15 (all business lines beat budget, except the ISO channel which was in-line), GPN is tracking ahead of plan (although still early in FY15). Different from its recent past, GPN believes it can deliver operating margin expansion of 30 to 50 bps annually. Due to strong fundamentals, we are raising our TP.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Bryan Keane has a total average return of 10.6% and a 67.6% success rate. Keane has a 13.1% average return when recommending GPN, and is ranked #508 out of 3337 analysts.