As previously reported, Stephens analyst Brett Huff upgraded First Data to Overweight from Equal Weight, saying he has clarity into medium-term organic revenue growth from the analyst day and thinks the U.S. economy will likely be stronger than the market thinks, which should benefit First Data. Acknowledging that First Data has given back most of its gains post Trump, the analyst thinks the market has yet to reward it for the likely improvement in NA GBS and notes that First Data is trading "very cheaply" on forward free cash flow metrics. He also raised his price target on the shares to $19 from $16.