Sterne Agee Maintains Buy on Global Payments

Sterne Agee is out with its report today on Global Payments GPN, maintaining Buy. In its report, Sterne Agee writes, "Global Payment's international footprint should drive growth and margin expansion. We initiated coverage of Global Payments in August with a Buy rating as we believe the company is well positioned to drive double-digit EPS growth. From a shorter-term perspective, the company has already provided FY12 guidance, which we think will prove conservative as we expect Global to benefit nicely from pricing changes as a result of the Durbin Amendment." At the time of posting, shares of GPN were trading at $40.66, up 0.57% from Thursday's close.