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Global Payments price target lowered to $185 from $219 at Morgan Stanley » 07:1109/1009/10/21
Morgan Stanley analyst…
Morgan Stanley analyst James Faucette lowered the firm's price target on Global Payments to $185 from $219 and keeps an Equal Weight rating on the shares following the company's investor day meeting. While Global Payments has raised medium-term targets, he was left with questions on how it plans to adapt its approach to address accelerating competitive spending and views large-scale M&A as the stock's most likely near-term catalyst, Faucette tells investors following the event.
Global Payments price target raised to $217 from $206 at BMO Capital » 09:1309/0909/09/21
BMO Capital analyst James…
BMO Capital analyst James Fotheringham raised the firm's price target on Global Payments to $217 from $206 and keeps an Outperform rating on the shares. The company's investor day presentation "did not disappoint" as it detailed its market leadership in payments, announces the acquisition of MineralTree, and also raised its cycle guidance above consensus expectations, the analyst tells investors in a research note. Fotheringham also raises his FY21 EPS view on Global Payments by 8c to $8.28 and FY22 view by 54c to $9.70.
Global Payments sees $15B cumulative adjusted FCF 2021-2025 » 10:1609/0809/08/21
Raises cycle adjusted EPS…
Raises cycle adjusted EPS view to high teens to 20% growth, adjusted net revenue growth in low double digits and now sees adjusted operating margins expanding 50-70bps annually. Previous cycle guidance was adjusted EPS growth in the mid to high teens, adjusted net revenue growth in the high single digits to low double digits and adjusted operating margins expanding up to 50bps annually. Comments taken from investor presentation slides.
Early notable gainers among liquid option names on September 8th » 09:5509/0809/08/21
PRGO, CTXS, GPN, GIS, COG
Notable gainers among…
Notable gainers among liquid option names this morning include Perrigo (PRGO) $43.84 +2.23, Citrix (CTXS) $108.86 +5.33, Global Payments (GPN) $165.34 +6.74, General Mills (GIS) $58.83 +2.04, and Cabot Oil & Gas (COG) $18.23 +0.47.
Paysafe announces expanded partnership with Betfred USA Sports » 09:1309/0809/08/21
PSFE, PYPL, MA, GPN, PAYS, SQ, AAPL, V
Paysafe (PSFE) announced…
Paysafe (PSFE) announced an expanded partnership with Betfred USA Sports, the wholly-owned U.S. subsidiary of U.K.-based bookmaker Betfred Group. Building on an existing payments relationship, the deal sees Betfred USA Sports plug into the affiliate marketing software of Income Access, Paysafe's marketing technology and services provider, for the upcoming launch of a multi-state affiliate program. The announcement marks the expansion of a partnership through which Betfred USA Sports currently leverages the Skrill USA digital wallet1 for its Iowa online sportsbook, and credit and debit card payment processing via Paysafe's best-in-breed payment gateway for its online sports-betting brand for the Colorado market. Both online gaming brands were unveiled in September 2020 and followed the launch of respective retail sportsbooks earlier that year. With its market presence and strong brand recognition, Betfred USA Sports is positioned for continued growth in the regulated U.S. iGaming space. The launch, scheduled for later this year, of its Income Access-powered affiliate program will support that objective as the operator will utilize a robust reporting and tracking platform to nurture relationships with marketing partners in both the digital and retail space. The program is set to first launch in Colorado with additional states forthcoming. The Fly notes that other publicly traded payment platforms include: PayPal Holdings (PYPL), Mastercard (MA), Global Payments (GPN), Paysign (PAYS), Square (SQ), Apple (AAPL) and Visa (V).
Global Payments to host virtual investor meeting » 08:5509/0809/08/21
Global Payments, Virgin Money enter pact to launch connected payment offering » 07:5609/0809/08/21
Global Payments and…
Global Payments and Virgin Money announced an agreement to leverage Global Payments' two-sided network to empower Virgin Money customers with digital payments experiences globally. The companies announce they are working to launch a new connected payment offering for Virgin Money's consumers and merchants. This new pay proposition would extend commerce and provide an integrated suite of digital capabilities. Virgin Money will be able to access end-to-end lifecycle data across its businesses through the new payment offering, gleaning better insights about buying patterns and trends in order to launch new products and services that directly solve customer needs and enhance the customer experience journey. As part of this partnership Global Payments will serve as the exclusive provider of merchant services to Virgin Money, offering cutting edge acquiring technologies to its sizable customer base. Additionally, Global Payments will expand its long-standing relationship with Virgin Money through its TSYS Issuer Solutions segment. This will create a single unified platform, adding all of Virgin Money's debit business to its current credit solutions under a new agreement, extending into the next decade, subject to regulatory consent.
Global Payments to buy accounts payable firm MineralTree for $500M cash » 07:3509/0809/08/21
Global Payments announced…
Global Payments announced an agreement to purchase MineralTree, a leading provider of accounts payable automation and business-to-business payments solutions, from an investor group led by Great Hill Partners, .406 Ventures and Eight Roads Ventures. MineralTree's software-as-a-service offerings automate key procurement processes, including invoice capture, coding and approval, and enable virtual cards and integrated payments options across a variety of key vertical markets to digitize payables for thousands of customers. In combination with Global Payments' existing B2B payments capabilities, including leadership in commercial payments, domestic and international acquiring, payroll, data and analytics, access to non-card based rails and virtual card provisioning, MineralTree's cloud native solutions substantially expand Global Payments' target addressable markets and provide significant incremental avenues for growth in one of the most attractive technology markets. Global Payments also will provide unique advantages for buyers, suppliers and employers through the creation of new virtual networks, deepening its competitive moat by expanding the company's arsenal of distinctive marketplaces and ecosystems...Under the terms of the acquisition agreement, Global Payments will acquire MineralTree for $500 million in cash. Global Payments will finance the acquisition with its existing credit facility and cash on hand. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the fourth quarter of 2021.
Global Payments to host virtual investor meeting » 04:5509/0809/08/21
Global Payments to host virtual investor meeting » 11:3209/0709/07/21