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Fly News Breaks for April 20, 2016
HPY, GPN
Apr 20, 2016 | 08:46 EDT
SunTrust analyst Andrew Jeffrey raised his price target for Global Payments (GPN) to $90 after upping his estimates to reflect the acquisition of Heartland Payment (HPY). The deal should drive multiple catalysts and the realization of revenue and margin upside will likely "propel meaningful multiple expansion," Jeffrey tells investors in a research note titled "Global/Heartland Marriage Should Be A Joyous Event. Buy." He reiterates a Buy rating on Global Payments.
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