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Fly News Breaks for February 13, 2020
Feb 13, 2020 | 07:49 EDT
Global Payments beat expectations for revenues, adjusted operating profit and earnings, raised its merger cost synergy target again, and provided an initial outlook that leaves room for upside, Citi analyst Ashwin Shirvaikar tells investors in a post-earnings research note. The main debate was on Merchant Solutions growth rate, which seemed weaker than expected but it is difficult to definitively call this core demand weakness, adds the analyst. He raised his price target for the shares to $233 from $230 and says Global Payments remains a top idea with a Buy rating. The analyst recommends buying the shares.
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