Analyst from Piper Jaffray Bullish Towards First Data Corp (FDC)
Analyst Jason Deleeuw of Piper Jaffray reiterated his Overweight rating on First Data Corp (NYSE:FDC) with a price target of $19, marking a 46% increase from current levels. This came after FDC reported revenue growth of 2% and its EPS beat expectations by $0.01. The increase in revenue came as “stronger GFS segment revenue only partially offset weaker GBS and NSS revenue.” FDC is expecting “go-forward improvement in its GBS segment growth trends as initiatives to reduce SMB merchant attrition and boost new merchant signings continue to take hold.” The analyst feels confident about FDC’s progress on new merchant singings, margins, free cash flow, and debt pay down.
According to TipRanks, Deleeuw has a success rate of 62% with an average return of 4.7% per recommendation.