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Fly News Breaks for July 15, 2019
GPN, TSS
Jul 15, 2019 | 07:32 EDT
Wedbush analyst Moshe Katri raised his price target for Global Payments (GPN) to $185 from $168 as he believes revenue/cost synergies from the TSYS (TSS) acquisition will exceed management's stated guidance/objectives. The analyst also thinks Global Payments/TSYS combination presents the least integration risk relative to the two other pending mergers since both companies have existing merchant processing infrastructure servicing SMBs utilizing similar strategies, providing both cost synergies as well as revenue opportunities. Katri reiterates an Outperform rating on Global Payments' shares.
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