First Data Should Be Bought On Recent Weakness, Says Wedbush

Wedbush analyst Moshe Katri keeps an Outperform rating on First Data Corp. (FDC) 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.