Goldman Sachs analyst James Schneider reinstated coverage of Global Payments with a Buy rating and $212 price target. The company's legacy asset is one of the best positioned in the space with "substantial" exposure to software-enabled distribution channels, Schneider tells investors in a research note. Further, the TSYS merger brings "best-in-class" issuer processing capabilities, adds the analyst. He believes the combined company is positioned to deliver high-single to low-double digit revenue growth, well above the industry at ~6%, while achieving "substantial" margin expansion.