Analyst Note| Brett Horn, CFA |
Global Payments started the year on a solid note, and its return to growth in the quarter echoes what we’ve seen from peers so far. Global Payments is an aggressive company, and following a lull over the past year, announced its acquisition of Zego. This deal appears to be in line with the company’s historical strategy of selectively acquiring software providers in key industry verticals. We will maintain our $179 fair value estimate and narrow moat rating.