First Data "overweight"

05/15/05 - Prudential Financial

NEW YORK, May 15 (newratings.com) - Analyst Bryan C Keane of Prudential Financial maintains his "overweight" rating on First Data (FDC). The target price is set to $50.

In a research note published on May 16, the analyst mentions that the company has acquired VIGO Money Transfer, a private money transfer provider firm that generates approximately $200-$250 million in revenues per annum. First Data has projected 7%- 9% revenue growth in the core Merchant segment, with total growth in the mid-teens driven by acquisitions in the domestic and international markets. The company expects to post margins in the mid-teens for its Card Issuing segment.