Cantor Fitzgerald Keeps a Hold Rating on First Data Corp

By Austin Angelo

Cantor Fitzgerald analyst Joseph Foresi maintained a Hold rating on First Data Corp (NYSE: FDC) yesterday and set a price target of $17. The company’s shares opened today at $21.71, close to its 52-week high of $22.14.

Foresi noted:

“We maintain our Neutral rating and 12-month PT of $17 after attending FDC’s Analyst day in NYC. FDC is keeping its eyes on the prize and focusing on accelerating its revenue growth and paying down debt. Catalysts are eCommerce, International, and ISV (see pg. 2 for add’l ISV info), which are all growing in double digits (Click here for our Finnovation Piece). International (~22% of revs) is a big opportunity for all three segments, with LATAM posting a 44% CAGR over 2015-17 and India a 10% CAGR. Brazil (3% market share), India are showing signs of strong demand. Debt paydown is a key priority.”

According to TipRanks.com, Foresi is a top 25 analyst with an average return of 20.1% and a 88.1% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.

First Data Corp has an analyst consensus of Strong Buy, with a price target consensus of $22.22.

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The company has a one-year high of $22.14 and a one-year low of $14.73. Currently, First Data Corp has an average volume of 7.89M.

Based on the recent corporate insider activity of 137 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.