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Fly News Breaks for August 30, 2018
FDC
Aug 30, 2018 | 07:52 EDT
Goldman Sachs analyst James Schneider raised his price target on First Data to $30 and kept his Buy rating, saying the company's fundamentals are inflecting as revenue acceleration "paves the way" for multiple expansion - all in spite of the 23% run-up in its stock price since mid-June. The analyst notes that his channel checks suggest a further revenue growth opportunity over the next few quarters, adding that First Data's "significant valuation gap" relative to other payment peers also offer a "strong" risk/reward profile at current price.
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