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First Data bulls take charge after investor day

Published 11/17/2016, 10:00 AM
First Data bulls take charge after investor day
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  • The company has evolved from one relying on capital markets to lower leverage into one that can do so organically through "ample" free cash flow, says BTIG's Mark Palmer, reiterating his Buy rating and upping the price target to $18 from $15 (about 20% upside).
  • The 2017 outlook, he says, should dismiss any remaining concern about management's confidence.
  • Investors should take a fresh look at the company, says Piper Jaffray's Jason Deleeuw, as this is "no longer the old First Data (NYSE:FDC)," with the company "positioned to win again." He ups his price target to $21 from $19, suggesting 40% upside in the stock.
  • More cautious is Bernstein's Lisa Ellis who notes the strong 2017 outlook is mostly back-loaded. She's got a Market Perform rating and $16 price target.
  • Investor day presentation slides
  • Shares +2.25% to $15.49 today, and up nearly 10% in the past five days.


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