Global Payments price target lowered to $130 from $143 at RBC Capital

RBC Capital analyst Daniel Perlin lowered the firm’s price target on Global Payments (GPN) to $130 from $143 and keeps an Outperform rating on the shares after its Q3 earnings miss. Results were below consensus expectations, driven by weather and macro softness in Issuer, the sale of AdvancedMD, and accelerated share repurchase, though the management also noted that volumes were impacted by severe weather in the U.S. Southeast and in Central/Eastern Europe, the analyst tells investors in a research note.