Global Payments price target lowered to $180 from $208 at BMO Capital

BMO Capital lowered the firm’s price target on Global Payments to $180 from $208 and keeps an Outperform rating on the shares. While the company’s results were “resilient” with stable sequential organic growth, investors remain cautious on merchant acquiring stocks following recent misses and selloffs at Worldline/Adyen, the analyst tells investors in a research note. BMO adds however that the firm remains excited about the set-up for Global Payments shares, as organic revenue growth demonstrates consistency while leverage ratios should fall within target range by year-end 2023.