Jefferies Starts First Data Corporation (FDC) at Buy
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Jefferies initiates coverage on First Data Corporation (NYSE: FDC) with a Buy rating and a price target of $16.50.
Analyst Jason Kupferberg commented, "We initiate on FDC with a Buy rating and $16.50 PT. Key points: 1) growth in domestic merchant processing segment is set to inflect, aided by improved SMB attrition, new enterprise wins, easier comps, 2) continued, gradual balance sheet de-levering, 3) investor sentiment and share performance have been weak since Oct. '15 IPO, 4) the Analyst Day on 11/16 could be a positive catalyst, including the introduction of financial guidance."
Shares of First Data Corporation closed at $13.45 yesterday.
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