Mizuho's Thomas McCrohan hikes his stock price target to $25 from $21, citing "potential for sustained higher growth rates in GBS North America organic revenue, in addition to the longer term prospects for a recovery within the JV channel as well as First Data's ongoing deleveraging effort," referring to FDC's global business solutions segment.
Bernstein's Harshita Rawat raises her price target to $24 from $22, believing "investors will continue to come from the sidelines" due in part to "visible signs of operational turnaround" and a strong trajectory for the Clover business.
Shares climbed 2.8% yesterday after a Goldman Sachs upgrade, as the firm expects revenue growth to improve as the acquisition of CardConnect and BluePay would triple FDC's exposure to sales coming from independent software vendors.
Now read: First Data: Buy This Breakout »
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