J.P. Morgan Overweight On Global Payments (GPN)

J.P. Morgan Chase & Co. has an Overweight rating and $46 price target on shares of Global Payments GPN. In a note sent to clients, J.P. Morgan writes, "GPN reports F2Q11 results tonight. We see little risk to our and consensus estimates, and expect a better tone (sequentially) from management given recent deal flow and stable trends. While expectations seem high that GPN will benefit from U.S. debit regulation, we don't expect management to provide financial guidance related to regulation on the earnings call. We remain Overweight owing to GPN's longer-term margin expansion opportunities (from platform upgrades), possible modest short-term yield benefit post Durbin, and growth potential in Asia, but believe the stock's risk/reward is balanced going into the quarter with shares trading at our price target." Shares of GPN gained 31 cents yesterday to close at $46.18.