UPDATE: Keefe, Bruyette & Woods Reiterates On Global Payments Following F1Q15 Results

In a report published Friday, Keefe, Bruyette & Woods analyst Steven Kwok reiterated a Market Perform rating on Global Payments (NYSE: GPN), and raised the price target from $77.00 to $80.00.

In the report, Keefe, Bruyette & Woods noted, “Following the results, we are increasing our F2015 and F2016 Cash EPS estimates to $4.75 (from $4.62) and $5.31 (from $5.12), respectively, to incorporate the earnings beat this quarter along with accretion from the two announced acquisitions. We also raising our price target to $80 (from $77), which is derived by applying a 15x multiple to our F2016 Cash EPS estimate, but maintaining our MP rating.”

Global Payments closed on Thursday at $72.25.