Oppenheimer Maintains a Buy Rating on First Data Corp (FDC)

By Carrie Williams

In a report released today, Glenn Greene from Oppenheimer maintained a Buy rating on First Data Corp (FDCResearch Report), with a price target of $27. The company’s shares opened today at $24.97, close to its 52-week high of $26.62.

Greene noted:

“FDC reported 4Q18 results in line with its preliminary release (on 1/16/19) concurrent with the FISV merger announcement. FDC realized ~6% Y/Y organic/CC segment revenue growth, ~7% organic/CC EBITDA growth, adjusted EPS of $0.38 and FY18 FCF of ~$1.5B. FDC’s FY19 guidance is also in line with previously announced expectations, calling for 5-6% organic/CC revenue growth, 6-8% organic/CC EBITDA growth and EPS of $1.55-1.58 (implies low double-digit growth). With segment growth trends broadly solid, we anticipate shares to trade directionally with FISV, considering the pending all-stock merger. We maintain our Outperform rating and $27 PT.”

According to TipRanks.com, Greene is a top 25 analyst with an average return of 18.1% and a 79.0% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Total System Services, and Black Knight Inc.

The word on The Street in general, suggests a Hold analyst consensus rating for First Data Corp with a $24.98 average price target, a 0.0% upside from current levels. In a report released yesterday, Robert W. Baird also reiterated a Buy rating on the stock with a $27 price target.

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Based on First Data Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.4 billion and net profit of $162 million. In comparison, last year the company earned revenue of $3.15 billion and had a net profit of $948 million.

Based on the recent corporate insider activity of 131 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.