UPDATE: Stifel Nicolaus Reiterates Buy Rating, Lowers PT on Global Payments

In a report published earlier today, Stifel Nicolaus and Company, Inc. reiterated its Buy rating on Global Payments, Inc.

, but slightly lowered its price target from $54.00 to $53.00. Stifel Nicolaus went on to say “In our view, although GPN is exposed to the EU crisis and consensus 2013 estimates may prove overly optimistic, we think the stock can rebound on 4Q12 EPS. While we have lowered our European revenue growth forecast meaningful, expectations are low and we expect GPN to at least meet guidance on strength in the domestic business. Moreover, we believe further clarity around the security breach and its modest financial impact should also help the shares rebound.” Global Payments, Inc. closed on Friday at $43.23.