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Fly News Breaks for December 18, 2018
GPN
Dec 18, 2018 | 09:16 EDT
In a research note titled "Wait, Does Organic Growth Make Sense?," Nomura Instinet analyst Dan Dolev lowered his price target for Global Payments to $91 from $97 and keeps a Reduce rating on the shares. The analyst says he's long suspected that the company's underlying organic growth in North America lies below management's stated figures. Third-party data like Nilson in 2017 pointed to a 3% decline in merchant count and "lackluster" 3% transaction growth for Global Payments, says Dolev.
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