Global Payments Inc

GPN: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$223.00	Pwtbg	Cvyxcyqy

Global Payments Earnings: Steady on a Good Trajectory

Brett Horn

Aug 1, 2023

Global Payments turned in a strong second quarter, with solid growth and a strong improvement in margins. The company is tracking a bit ahead of our full-year expectations but not by a large enough margin to alter our $179 fair value estimate for the narrow-moat company. We continue to see shares as materially undervalued and believe the company's recent performance should help to dispel fears of disruption.

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