Oppenheimer analyst Glenn Greene maintained a Buy rating on Global Payments Inc (GPN) today and set a price target of $143. The company’s shares opened today at $121.05.
Greene wrote:
“GPN posted solid 4Q18 results with double-digit organic CC revenue growth, and cash EPS of $1.33 (up ~24% vs. our/Street’s $1.32 estimates). Growth was again broad-based including ~LDD US direct organic growth, and low to mid teens organic CC European and APAC growth. GPN’s technology-enabled assets continue to drive growth, and now represent ~45% of revenue. The company also provided encouraging CY19 guidance, calling for ~13-15% CC revenue growth (higher than our/Street expectations) and ~14-18% EPS growth, which appears conservative. The acquisitions of AMD and SICOM both performed toward high end of expectations and should prove modestly accretive to CY19E EPS. With shares trading at ~16.5x our CY20E, we view GPN as quite attractive. Reiterate Outperform and raise PT to $143 (from $130).”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 17.9% and a 80.1% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Total System Services.
Global Payments Inc has an analyst consensus of Moderate Buy, with a price target consensus of $130.10, implying a 7.5% upside from current levels. In a report issued on February 11, Robert W. Baird also reiterated a Buy rating on the stock with a $130 price target.
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Global Payments Inc’s market cap is currently $18.57B and has a P/E ratio of 30.34. The company has a Price to Book ratio of 4.67.
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Global Payments, Inc. engages in the provision of payment technology and software solutions. It operates through the following geographical segments: North America, Europe, and Asia-Pacific.
