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.
Global Payments to acquire FIS gaming business Global Payments announced that it has entered into a definitive agreement to purchase gaming assets from Certegy Check Services, a subsidiary of Fidelity National Information Services FIS, related to its business for licensed gaming operators. This acquisition will be complementary to Global Payments’ gaming business and will expand its existing suite of innovative products and solutions. This transaction is subject to regulatory approvals and contractual closing conditions and is expected to close during 4Q15. The company intends to fund the acquisition through operating cash flows and it is not expected to have a material impact on the company’s FY15 results or capital plans.