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FDC

First Data

$22.41

-0.04 (-0.18%)

, TSS

TSYS

$91.55

0.28 (0.31%)

09:50
07/13/18
07/13
09:50
07/13/18
09:50

Susquehanna says Walmart card flip could be loss for First Data, win for TSYS

After Bloomberg reported yesterday that Capital One (COF) is bidding to issue Walmart's (WMT) private-label card and replace incumbent Synchrony (SYF), Susquehanna analyst James Friedman noted that TSYS (TSS) is used by Capitol One for its issuer processing, while First Data (FDC) processes for Synchrony. If TSYS were to win the issuer processing business of the Walmart cards via a successful Capital One bid, Friedman estimates it could represent revenue upside of $11M-$15M. The firm has Positive ratings on First Data, Synchrony and TSYS.

FDC

First Data

$22.41

-0.04 (-0.18%)

TSS

TSYS

$91.55

0.28 (0.31%)

WMT

Walmart

$86.79

0.29 (0.34%)

SYF

Synchrony

$32.71

-0.24 (-0.73%)

COF

Capital One

$94.85

-0.4 (-0.42%)

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    Aug

FDC First Data
$22.41

-0.04 (-0.18%)

06/28/18
SBSH
06/28/18
NO CHANGE
Target $67
SBSH
Neutral
Square price target raised to $67 from $47 at Citi
Citi analyst Peter Christiansen raised his price target for Square (SQ) to $67 but keeps a Neutral rating on the name. Sqaure's momentum can be validated by PayPal's (PYPL) acquisition of iZettle and First Data's (FDC) emphasis on Clover, Christiansen tells investors in a research note. He believes the opportunity remains large, but thinks competition will begin to intensify as Square continues to push upmarket where distribution remains more relevant. Nevertheless, Square is a category leader in a space undergoing rapid innovation, Christiansen contends. He wants to see evidence of the company's upmarket competitiveness before getting more constructive on the shares.
06/15/18
RHCO
06/15/18
NO CHANGE
Target $26
RHCO
Buy
First Data price target raised to $26 from $21 at SunTrust
SunTrust analyst Jennifer Dugan raised her price target on First Data to $26 and kept her Buy rating after the company's Analyst Day, saying the management has highlighted "credible levers" to sustain a mid-single-digit organic revenue growth rate through FY21. The analyst cites the company's plans for international expansion, its growing ISV market, and deleveraging initiatives allowing for further investments.
06/15/18
RAJA
06/15/18
INITIATION
Target $23
RAJA
Outperform
First Data resumed with an Outperform at Raymond James
Raymond James analyst John Davis resumed coverage on First Data with an Outperform and $23 price target. Davis said shares are too attractively valued to ignore despite year-to-date outperformance and believes CardConnect and BluePay acquisitions have just begun to pay dividends, combined with easing 2H 2018 comps, should drive revenue growth throughout the year. Further, the analyst said First Data remains a deleveraging story, which could create $4/share by the end of 2019.
TSS TSYS
$91.55

0.28 (0.31%)

04/25/18
FBCO
04/25/18
NO CHANGE
Target $95
FBCO
Neutral
TSYS price target raised to $95 from $87 at Credit Suisse
Credit Suisse analyst Paul Condra raised his price target for TSYS to $95 from $87 following quarterly results. The analyst reiterates a Neutral rating on the shares.
07/12/18
BARD
07/12/18
NO CHANGE
Target $100
BARD
Outperform
TSYS designated 'Fresh Pick,' price target raised to $100 at Baird
Baird analyst David Konig raised his price target on Outperform-rated Total System Services to $100 from $98 and designated it as a Fresh Pick. In a research note to investors, Konig says he thinks Q2 results could be a beat/raise, adding that 2019 EPS could be "biased up nicely," and that valuation "isn't excessive." Konig says that while the stock has lagged versus peers on his list, "they have fundamentally crushed it" and that "we like a comeback story."
06/15/18
RAJA
06/15/18
INITIATION
RAJA
Market Perform
TSYS initiated with a Market Perform at Raymond James
Raymond James analyst John Davis initiated TSYS with a Market Perform citing valuation following significant share outperformance over the last year.
WMT Walmart
$86.79

0.29 (0.34%)

07/13/18
FBCO
07/13/18
NO CHANGE
Target $45
FBCO
Outperform
Synchrony 'unlikely' to lose Walmart contract, says Credit Suisse
Credit Suisse analyst Moshe Orenbuch said he believes Synchrony Financial (SYF) is likely to retain its credit card contract with Walmart (WMT) following a Bloomberg report that said Capital One (COF) is bidding for the portfolio. Orenbuch says this is "not an ideal partnership" for Capital One, because while it has been a long-time player in the nonprime card business, he feels it is "less likely" that it would be comfortable acquiring a large portfolio with potential significant nonprime component such as the Walmart portfolio, particularly when it did not underwrite the loans. Orenbuch says that if Synchrony does retain the contract, which is expected to expire in 2019, the company will most likely have to cede more economics to Walmart in terms of profit sharing.
07/13/18
BTIG
07/13/18
NO CHANGE
Target $44
BTIG
Buy
Synchrony may have 'upper hand' in Walmart credit card bidding, says BTIG
BTIG analyst Mark Palmer is keeping his Buy rating and $44 price target on Synchrony (SYF), noting the 5.3% decline in its stock price after media reports that Walmart (WMT) is considering shifting its credit card program to Capital One (COF). The analyst believes that Synchrony may still have the upper hand over Capital One because Walmart's objective to build out its digital wallet and mobile payment capabilities is better served by Synchrony's "understated solid experience helping retailers to develop their mobile capabilities" given its recent acquisition of GPShopper, which assists retailers in developing mobile apps. Palmer adds that given the risks and complexity around the transfer of a store-card program, Walmart should require a "very significant advantage", and it is more likely that it will renew its Synchony agreement at "somewhat less favorable terms for the issuer".
07/12/18
BUCK
07/12/18
NO CHANGE
BUCK
Buckingham says Synchrony will do 'almost anything' to keep Walmart relationship
Buckingham analyst Chris Brendler said he remains positive on Synchrony (SYF) following a Bloomberg report that Capital One (COF) is bidding for Walmart's (WMT) credit card business. He feels less optimistic about Synchrony's chances of retaining the long-standing relationship, lowering his estimate of the odds of keeping it to 60% from 80%, but Brendler also said it is "difficult, expensive and risky" to move a portfolio of this size and he could see a split deal as possible. Given that Walmart represents about 15% of its revenue, he also thinks Synchrony will do "almost anything" to keep the relationship, said Brendler, who added that Synchrony shares are now cheapest in their peer group. The analyst has a Buy rating on Synchrony shares.
SYF Synchrony
$32.71

-0.24 (-0.73%)

COF Capital One
$94.85

-0.4 (-0.42%)

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Rio Tinto

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MDT

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HRC

Hill-Rom

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EW

Edwards Lifesciences

$141.95

-1.44 (-1.00%)

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Initiation
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CNMD

CONMED

$73.17

0.73 (1.01%)

17:28
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Initiation
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  • 06

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TTOO

T2 Biosystems

$5.30

0.17 (3.31%)

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BSX

Boston Scientific

$36.43

-0.56 (-1.51%)

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BDX

Becton Dickinson

$238.38

-4.33 (-1.78%)

17:25
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BAX

Baxter

$70.88

-0.39 (-0.55%)

17:24
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CRMD

CorMedix

$2.15

-0.12 (-5.29%)

17:23
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AVNS

Avanos

$60.02

0.59 (0.99%)

17:22
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ABT

Abbott

$68.72

-0.62 (-0.89%)

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  • 17

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SBBX

SB One Bancorp

$24.00

-0.27 (-1.11%)

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Breaking Hot Stocks news story on SB One Bancorp »

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HQCL

Hanwah Q Cells

$8.20

-0.13 (-1.56%)

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MBRX

Moleculin Biotech

$1.38

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CRY

CryoLife

$30.64

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TRQ

Turquoise Hill

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PANW

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$209.49

-2.51 (-1.18%)

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TRQ

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HQCL

Hanwah Q Cells

$8.20

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BCOR

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FB

Facebook

$153.56

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