Cantor Fitzgerald Believes Global Payments Inc (GPN) Still Has Room to Grow


In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Buy rating on Global Payments Inc (NYSE: GPN), with a price target of $136. The company’s shares opened today at $125.51, close to its 52-week high of $125.78.

Foresi wrote:

“: We continue our Foresi’s Fundamentals & Charts series, in which we look at our coverage universe periodically for an opportunity in names where the Fundamentals match up with the Technicals. We look this week at Overweight-rated GPN with a 12-month price target of $136. Fundamentally, we are attracted to GPN’s strong position in purchase transaction processing in the U.S. and its solid footprint globally as a merchant acquirer. In the most recent quarter, GPN announced the acquisition of AdvancedMD. We believe acquisitions are beneficial for GPN and the merchant acquirers in general. Technically, GPN is in a strong upward channel recently breaking out of a sideways channel.”

According to TipRanks.com, Foresi is a top 25 analyst with an average return of 22.8% and a 90.4% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.

Global Payments Inc has an analyst consensus of Moderate Buy, with a price target consensus of $131.50, which is a 4.8% upside from current levels. In a report issued on August 28, Wedbush also reiterated a Buy rating on the stock with a $135 price target.

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The company has a one-year high of $125.78 and a one-year low of $92.97. Currently, Global Payments Inc has an average volume of 978.1K.

Based on the recent corporate insider activity of 107 insiders, corporate insider sentiment is negative on the stock.

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Global Payments, Inc. engages in the provision of payment technology services. It operates through the following segments: North America, Europe, and Asia-Pacific. The North America segment offers numerous services and solutions, including: restaurant, hospitality, retail, convenience stores and petroleum, professional services, automotive, and lodging.

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