Analysts fell to the sidelines weighing in on First Data Corp (FDC) and Spotify Technology SA (SPOT) with neutral ratings, indicating that the experts are neither bullish nor bearish on the stocks.
First Data Corp (FDC)
In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Hold rating on First Data Corp, with a price target of $25. The company’s shares opened today at $25.43, close to its 52-week high of $26.62.
Foresi commented:
“: We maintain our Neutral rating on FDC and raise our PT to $25 from $20 given the upcoming merger with FISV (N). The company reported 4Q18 earnings above expectations. FDC did not hold its conference call due to the merger.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 19.1% and a 81.3% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Currently, the analyst consensus on First Data Corp is a Hold with an average price target of $24.61, which is a -3.2% downside from current levels. In a report issued on January 22, Barclays also downgraded the stock to Hold with a $23 price target.
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Spotify Technology SA (SPOT)
Pivotal Research analyst Jeffrey Wlodarczak reiterated a Hold rating on Spotify Technology SA today and set a price target of $165. The company’s shares opened today at $129.90.
Wlodarczak noted:
“We remind investors Spotify loss guidance in ’18 turned out to be very conservative. The flow through of these material increases in our cost estimates in ’19 and beyond, offset partially by higher forecast subscribers led to a $25 reduction in our YE’19 target price to $165. Recall this target price is based on a discounted cash flow methodology (10% discount rate, 13X ’26 EBITDA (€140M value per premium subscriber). SPOT REMAINS THE GLOBAL LEADER IN MUSIC STREAMING THAT IN OUR OPINION IS ONLY IN THE 3 RD /4 th INNING OF A VERY HEALTHY SUBSCRIBER GROWTH TRAJECTORY- Ultimately, we expect a material % of global consumers will move to subscription/ad-based streaming all you can eat model for music/podcast consumption.”
According to TipRanks.com, Wlodarczak is a 4-star analyst with an average return of 7.3% and a 57.5% success rate. Wlodarczak covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Sirius XM Holdings Inc, and Liberty LiLAC Group.
Currently, the analyst consensus on Spotify Technology SA is a Moderate Buy with an average price target of $168.50.
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