Citi lowered the firm’s price target on Global Payments (GPN) to $135 from $138 and keeps a Buy rating on the shares. The firm updated the company’s model post the Q4 report. Global Payments’ business transition is “now in flight with more tangible details regarding initiatives and milestones,” the analyst tells investors in a research note. The firm says that while the business reorientation involves execution risk, the stock’s risk/reward skews to the upside at current levels, particularly if the company can demonstrate underlying revenue stability and more disciplined capital allocation.
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