First Data Corp. (NYSE: FDC) Stock Coverage Initiated at Craig Hallum

Analysts at Craig Hallum initiated coverage on First Data Corp. (NYSE: FDC) stock, starting the company at Buy and a price target of $20.00. As a means of comparison, a number of other analysts have commented on the stock recently, and the company has earned a consensus one-year price target of $16.23, $13.40. First Data Corp.stock has a 52-week high of $17.99.

Stock suffered moderate losses yesterday across the board on the heels of Monday’s gains.

The Dow Jones Industrial Average lost 49 points, or 0.26 percent, to close at 18,454.The S&P 500 shed 4 points, or 0.20 percent, to finish at 2,176.The Nasdaq lost 9 points, or 0.18 percent, to close at 5,223.

NYMEX crude oil futures lost 1.21 percent to $46.41 while Brent contracts shed 1.64 percent and were last trading at $48.45.

Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.

Shares of First Data Corp. (NYSE: FDC) opened at $13.40 and traded in a range between, $13.27 and $13.63 yesterday, and last traded at $13.45, which represents a change of $ 0.28 over the previous closing price.

First Data Corp. (NYSE: FDC) currently has a market cap of 12.24B

The stocks average daily volume is 4,996,760 shares out of a total float 334,748,000 of and some 5,178,162 shares crossed the trading desk yesterday, 100 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.

While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.

By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.

With that in mind First Data Corp. (NYSE: FDC) now has a 50-day MA is $12.74 and 200-day MA is $12.26, and it has traded in a 52-week range between $8.37 – 17.99 and today’s last price is -25.24 percent off the 52 week high.

Earnings growth is an important factor toresearch when buying stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of BNB Daily News. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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