Guggenheim analyst Jeff Cantwell upgraded Global Payments (GPN) to Buy from Neutral after the company announced an all-stock merger of equals with TSYS (TSS), stating that he sees this as a smart strategic decision, given his view that TSS' Issuer business is "best-in-class" and his "highly positive view" of its Merchant Solutions business. Cantwell, who expects management's initial revenue and cost synergy targets will eventually be beat, set a $176 price target on Global Payments shares. He also downgraded TSYS to Neutral from Buy this morning, as previously reported.