Yahoo Finance

Jefferies downgraded Global Payments (GPN) to Hold from Buy with a price target of $75, down from $100. It is clear that scale-driven deals in merchant acquiring are unlikely to work, says the firm, which struggles to see how Worldpay and Global Payments, which it says “both have long-term challenges, are ultimately additive to each other. Taking up leverage and leaning into a more cyclical mix of assets is “unlikely to find incremental support in the current backdrop,” the analyst argues.

Stay Ahead of the Market:

• Discover outperforming stocks and invest smarter with Top Smart Score Stocks.

• Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See Insiders’ Hot Stocks on TipRanks >>

Read More on GPN:

Disclaimer & DisclosureReport an Issue

• Global Payments downgraded to Hold from Buy at Jefferies

• Keefe Bruyette downgrades Global Payments on risk after Worldpay deal

• Global Payments downgraded to Market Perform from Outperform at Keefe Bruyette

• Global Payments Stock (GPN) Dives on Fidelity National Info Deal

• BTIG says Global Payments slips after deal, pull back on capital return strategy