Credit Suisse Raises Price Target On Global Payments

Credit Suisse raised its price target on Global Payments Inc. GPN Monday from $83 to $91.

Analysts led by Georgios Mihalos noted that hos firm “recently hosted an investor call with senior management of GPN including CEO Jeff Sloan, CFO Cameron Bready and EVP Jane Elliott.”

“Our key takeaway is that GPN remains well positioned to drive upside to Street consensus estimates with multiple levers including: 1) pricing opportunities tied to declining global interchange rates; 2) modest, but noticeable impact from the AXP OptBlue roll-out in the U.S.; 3) potential Apple driven upside to APAC growth in F2Q/3Q; 4) upside from acquisitions and additional buybacks not factored into our model.

“Operating margins, long the crux of the bear thesis, are poised to expand for the first time in 9 years,” according to Mihalos.

The analyst note concluded by “raising our FY15/16 adj. EPS estimates to $4.76/$5.38 from $4.70/$5.33, ahead of Street consensus of $4.73/$5.26.”

Global Payments Inc. recently traded at $83.12, up 0.48 percent.