Mizuho Securities Reiterates Buy on First Data (FDC) After Adjusting Estimates

October 12, 2016 8:20 AM EDT
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Price: $15.41 -2.41%

Rating Summary:
    25 Buy, 8 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 1 | Down: 2 | New: 3
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Mizuho Securities reiterated a Buy rating and $16.00 price target on First Data Corporation (NYSE: FDC) after adjusting estimates. 3Q EBITDA estimates were cut from $756m to $742m. 2017 EBITDA estimate were cut from $3.09b to $3.06b.

Analyst Neil Doshi commented, "We are taking this opportunity to adjust our EBITDA estimates for FDC in tempering our expectations for operating leverage. We believe our EBITDA numbers were slightly aggressive and are adjusting them accordingly. We maintain our Buy rating and our $16 PT."

For an analyst ratings summary and ratings history on First Data Corporation click here. For more ratings news on First Data Corporation click here.

Shares of First Data Corporation closed at $13.17 yesterday.

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