Global Payments risk/reward remains attractive, says RW Baird Baird views the risk/reward for Global Payments as attractive following Q3 results. The firm thinks the shares could trade off today citing its only mildly raised guidance. Baird thinks its multiple could grow to a normalized rate if earnings growth continues. Shares are Outperform rated with a $82 price target.
On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: Bemis (BMS) upgraded to Buy from Neutral at BofA/Merrill... Gigamon (GIMO) upgraded to Outperform from Market Perform at William... Global Payments (GPN) upgraded to Overweight from Equal-Weight at First Analysis... Knight Transportation (KNX) upgraded on valuation, catalysts at Stifel... Macy's (M) upgraded to Buy from Neutral at Buckingham... Netflix (NFLX) upgraded to Buy from Neutral at Citigroup... Reckitt Benckiser (RBGLY) upgraded to Buy from Neutral at UBS... Union Pacific (UNP) upgraded on valuation, growth outlook at Stifel... Weatherford (WFT) upgraded to Outperform from Sector Perform at RBC Capital.
Global Payments raises FY15 cash EPS view to $4.77-$4.84 from $4.75-$4.83 Consensus is $4.78. Still sees FY15 revenue $2.75B-$2.8B, consensus $2.78B. The company also now expects annual fiscal 2015 core cash operating margins to expand by as much as 60 basis points.