Global Payments price target raised to $155 from $135 at Goldman Sachs

TipRanks

Tue, Dec 3, 2024, 5:17 AM 1 min read

Goldman Sachs analyst Will Nance raised the firm’s price target on Global Payments (GPN) to $155 from $135 and keeps a Buy rating on the shares. Since the election, the median payment technology stock in coverage has increased 18%, with higher beta growth names with pro-cyclical exposure, among other factors, outperforming the most, the analyst tells investors in a research note. The firm believes fintech is a net beneficiary of a stronger economy and inflation as well as many of the potential policy changes in the new administration. However, against the backdrop of more elevated valuations and limited visibility to an acceleration in fundamentals, it prefers “to be a bit more selective.”