First Data Corp (FDC) Receives a Buy from Piper Jaffray

By Jason Carr

Piper Jaffray analyst Jason Deleeuw reiterated a Buy rating on First Data Corp (FDCResearch Report) on December 21 and set a price target of $25. The company’s shares closed on Friday at $15.86, close to its 52-week low of $14.73.

According to TipRanks.com, Deleeuw is a 4-star analyst with an average return of 3.5% and a 52.1% success rate. Deleeuw covers the Financial sector, focusing on stocks such as Fidelity National Financial, Cannae Holdings Inc, and American Express.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for First Data Corp with a $26.50 average price target, which is a 67.1% upside from current levels. In a report issued on December 12, Guggenheim also reiterated a Buy rating on the stock with a $22 price target.

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Based on First Data Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.37 billion and net profit of $401 million. In comparison, last year the company earned revenue of $3.08 billion and had a net profit of $296 million.

Based on the recent corporate insider activity of 133 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.