Wedbush Starts First Data Corporation (FDC) at Neutral

September 9, 2016 7:18 AM EDT
Get Alerts FDC Hot Sheet
Price: $15.41 --0%

Rating Summary:
    25 Buy, 8 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 1 | Down: 4 | New: 3
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Wedbush initiates coverage on First Data Corporation (NYSE: FDC) with a Neutral rating and a price target of $15.00.

Analyst Moshe Katri commented, "We are initiating coverage with a NEUTRAL and $15 price target. In our view, current valuation (9.5X our projected FY17E adj. EPS) fully factors prospective growth rates and profitability, the opportunity to deleverage ($20B in debt in FY15) considering FDC's strong FCF generation, and margin expansion opportunities as the firm's solutions continue to migrate to integrated payments. We believe FDC can post 3-5% YOY top line growth for FY16 and FY17."

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 $14.36 yesterday.

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