Global Payments Downgraded To Neutral From Buy At Goldman Sachs
Goldman Sachs analyst James Schneider downgraded Global Payments (GPN) to Neutral with an unchanged price target of $125. The stock closed Friday down 24c to $117.50.
The company's software-led payments strategy, along with accretive acquisitions, should allow for continued "best-in-class growth," Schneider tells investors in a research note.
However, he now sees fewer near-term catalysts for shares of Global Payments and expects only modest upside to Street estimates in 2018. As such, the analyst views the stock's current valuation as fair.
Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at TheFly.com.