Analysts are Downgrading These 5 Stocks

1. Global Payments Inc. (NYSE:GPN)

Number of Hedge Fund Holders: 57

Global Payments Inc. (NYSE:GPN) received a downgrade from Baird on Monday, November 14. The research firm cut its ratings for the Phoenix-based mining company from “Outperform” to “Neutral,” citing the absence of positive catalysts in the near term.

Baird also reduced its price target for Global Payments Inc. (NYSE:GPN) from $114 per share to $118 per share.

Separately, Global Payments Inc. (NYSE:GPN) also appeared in the second-quarter 2022 investor letter of asset manager Manole Capital Management. Here’s what the firm said:

“Over the next week or so, we will be publishing a stock-specific note on payment processor Global Payments Inc. (NYSE:GPN). We have owned GPN for nearly two decades and it currently is one of our largest positions. We will begin by highlighting recent spending trends, eCommerce developments and how many of our payment companies can actually benefit from inflation and higher costs. We will discuss their business, industry trends, what is driving their growth, and then highlight their compelling valuation.”

You can also take a peek at Steven Boyd and Armistice Capital’s Top Stock Picks and 12 Best Consumer Staple Stocks.

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