Wedbush Starts First Data Corporation (FDC) at Neutral
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
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."
Shares of First Data Corporation closed at $14.36 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Dougherty & Co Starts Quality Systems (QSII) at Neutral
- JPMorgan Raises Rating on CBOE Holdings (CBOE) to 'Overweight'; Analyst Thinks Bats Technology Will Drive Greater Trading Activity
- Jefferies Cuts Price Target on Kroger (KR) to $30 Following 3Q and Guidance
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!