First Data (FDC) Stock Started With 'Overweight' Rating at Barclays

First Data (FDC) stock was initiated with an 'overweight' rating at Barclays on Monday.
By Amanda Albright ,

NEW YORK (TheStreet) -- Barclays initiated coverage on First Data (FDC) - Get Report with an "overweight" rating on Monday. The firm set a $20 price target on the stock.

Concerns about the global payment company's leverage profile and top-line growth rate are overblown, Barclays said. 

First Data, which went public last month, will see upside due to growth in its hardware and software products, the firm added. 

Barclays projected First Data's fiscal 2017 earnings at $1.60 per share. 

"That said, we note that FDC will most likely grow its top and bottom line much slower than its competitors given its larger base," the firm added. 

Shares of First Data were down 0.85% to $16.93 in late morning trading on Monday. 

FDC

data by

YCharts

Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

Loading ...