First Data Corp Receives a Rating Update from a Top Analyst

By Carrie Williams

Robert W. Baird analyst David Koning reiterated a Hold rating on First Data Corp (NYSE: FDC) today and set a price target of $22. The company’s shares opened today at $17.13.

According to TipRanks.com, Koning is a top 100 analyst with an average return of 17.2% and a 87.0% success rate. Koning covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Sykes Enterprises Inc.

Currently, the analyst consensus on First Data Corp is Strong Buy and the average price target is $21.60, representing a 26.1% upside.

In a report issued on October 30, Cantor Fitzgerald also maintained a Hold rating on the stock with a $17 price target.

Based on First Data Corp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $3.08 billion and quarterly net profit of $296 million. In comparison, last year the company earned revenue of $2.94 billion and had a net profit of $132 million.

Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is neutral on the stock.

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First Data Corp. provides commerce-enabling technology and solutions. It provides secure and innovative payment technology and services. The company operates through three business segments: Global Business Solutions, Global Financial Solutions and Network & Security Solutions.