$GPN

Analysts made multiple rating changes: Wells Fargo initiated Johnson Controls (JCI) as overweight, UBS initiated Chemed (CHE) as buy, Mizuho reiterated SpaceX as outperform, Barclays initiated Ligand Pharmaceuticals (LGND) as overweight, Seaport reiterated Nvidia (NVDA) as sell, UBS upgraded Stem (STEM) to buy, HSBC upgraded BP (BP) to buy, Bernstein initiated CF Industries (CF) as outperform, Bank of America reiterated AMD (AMD) as buy, Bernstein reiterated Apple (AAPL) as outperform, JPMorgan…

The Karnataka High Court dismissed Genpact India's challenge to the Enforcement Directorate's seizure of its Gurgaon office under FEMA, ruling that the 2018-2023 payments could be examined. However, it set aside the ED's rejection of Genpact's $100M NOC application, citing insufficient reasoning. The court did not find FEMA violations but allowed the ED to investigate further.

Genpact CEO BK Kalra stated that the experimental phase of AI is over, and enterprises must now focus on scaling use cases. He highlighted challenges like data, process, and talent debt, emphasizing the need for process intelligence and IT involvement. Kalra also stressed workforce readiness and the importance of employees understanding AI tools. According to a survey by Genpact and HFS Research, only 6% of organizations have successfully addressed these issues.

Global Payments Inc. (GPN), a $23.9B payment tech provider, has seen its stock rise 33.9% in 3 months, outperforming the iShares U.S. Industrials ETF (IYJ). GPN is up 16.7% YTD, though slightly behind IYJ's 52-week return. Analysts give GPN a 'Moderate Buy' rating with a $103.27 mean price target, a 15.4% premium. Rival Copart (CPRT) has underperformed, down 20.2% YTD.

Major indices closed lower Thursday, with the Russell 2000 down 1.04%. Brent Crude surged 7.2% to $108.60 due to U.S.-Iran tensions. Morgan Stanley downgraded Novo Nordisk (NVO) to Underweight, while RBC initiated Dell (DELL) with an Outperform rating and $640 target. Analysts also made calls on Atmos Energy (ATO), Celanese (CE), Check Point (CHKP), Chewy (CHWY), Fortinet (FTNT), Global Payments (GPN), HP (HPQ), and Shopify (SHOP).

Analysts initiated coverage on five companies: Keybanc rated PPG Industries (PPG) Overweight with a $133 target, Bernstein rated Shopify (SHOP) Outperform with a $160 target, Mizuho rated Chesapeake Utilities (CPK) Outperform with a $150 target, Piper Sandler rated Global Payments (GPN) Neutral with a $101 target, and JP Morgan rated Dianthus Therapeutics (DNTH) Overweight with a $135 target. All stocks closed lower than their respective targets on Thursday.

RBC Capital maintained a Hold rating on Global Payments (GPN) with a $106.00 price target. GPN shares closed at $91.82. TD Cowen also issued a Hold, while Wolfe Research kept a Buy rating. GPN reported Q2 revenue of $3.32B and a net loss of $8.71M, down from $1.96B revenue and $241.64M profit last year.

Florida AG James Uthmeier sued Stake and VGW, alleging illegal online gambling, and named payment processors including Worldpay, Trustly, and others. Visa, Mastercard, and Amex received cease-and-desist letters. Regulatory scrutiny may extend to financial institutions tied to these platforms, with banks and payment companies facing potential risk exposure.

TD Cowen analyst Bryan Bergin maintained a Hold rating on Global Payments (GPN) with a $95 price target. Truist Financial also issued a Hold, while Wolfe Research kept a Buy rating. GPN reported Q2 revenue of $3.32B and a net loss of $8.71M, down from $1.96B revenue and $241.64M profit last year.

TD Cowen raised its price target for Global Payments from $90 to $95. The stock is currently trading at $93.82, up 21.21% year-to-date. Separately, Rothschild & Co Redburn increased its target to $70 from $60.