Raymond James lowered the firm’s price target on Global Payments to $156 from $160 and keeps an Outperform rating on the shares. Global Payments reported "solid" Q1 results that featured 2% revenue and 4% EPS upside relative to the Street, and the company raised its FY23 revenue and EPS growth outlook, the analyst tells investors in a research note. The announced CEO transition timing was "surprising," the firm says, but it sees a path for $12+ in FY24 EPS.
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Published first on TheFly
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Read More on GPN:
- Global Payments falls -6.4%
- Global Payments CEO Jeff Sloan to step down, Cameron Bready to succeed
- Global Payments CEO says Q1 best in four years
- Global Payments raises FY23 EPS view to $10.32-$10.44 from $10.25-$10.37
- Global Payments reports Q1 adjusted EPS $2.40, consensus $2.30
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