In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Hold rating on First Data Corp (FDC), with a price target of $20. The company’s shares opened today at $17.93.
Foresi said:
“: We continue our Foresi’s Fundamentals & Charts series, in which we look at our coverage universe periodically for an opportunity in names where the Fundamentals match up with the Technicals. We look this week at Neutral- rated FDC with a 12-month price target of $20. Fundamentally, we would like to see further visibility on a move closer to industry-average growth rates and progress toward deleveraging before getting constructive. Technically, the stock is back in a sideways channel.”
According to TipRanks.com, Foresi is a top 100 analyst with an average return of 14.1% and a 67.3% 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 Strong Buy with an average price target of $26.90.
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Based on First Data Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.37 billion and net profit of $401 million. In comparison, last year the company earned revenue of $3.08 billion and had a net profit of $296 million.
Based on the recent corporate insider activity of 136 insiders, corporate insider sentiment is negative on the stock.
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First Data Corp. engages in the provision of commerce-enabling technology and solutions; and payment technology and services. It operates through the following segments: Global Business Solutions; Global Financial Solutions; and Network and Security Solutions.
