Jefferies Initiates Coverage On Global Payments With Hold Rating

According to Jefferies, Global Payments (NYSE: GPN) coverage is initiated with Hold rating.

Jefferies said that it believes GPN enjoys an enviable position in the payments value chain. “Our $50 price target is based on a blend of 14x our C12 EPS estimate of $3.21 and our DCF model. Risks include consumer spending, intense competition, M&A execution.”

Global Payments closed yesterday at $49.58.