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Fly News Breaks for November 23, 2018
FDC
Nov 23, 2018 | 09:09 EDT
Wedbush analyst Moshe Katri keeps an Outperform rating on First Data Corp. with a $30 price target following the company's "mixed" Q3 results. The stock closed Wednesday at $17.46. Multiple factors, including currency headwinds, acquisition dilution, the new accounting standard and divestitures impacted reported sales and profitability, Katri tells investors in a research note. The analyst recommends buying the stock on the recent weakness saying the thesis is intact. First Data remains well positioned to capitalize on strength in merchant/financial processing combined with gradual deleveraging in its balance sheet, says the analyst.
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