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Analysts Grow More Cautious About First Data
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The largest U.S. initial public offering (IPO) of 2015 was First Data Corp. (NYSE: FDC), which raised just over $2.5 billion in October on the sale of $160 million shares at $16 each. That total came despite the fact that the IPO priced almost 30% below the midpoint of its expected range.
First Data, the world’s largest processor of credit and debit card payments, serving over 6 million business locations across 118 countries, has not traded at or above its IPO price on any day so far this year. The company posted a fourth-quarter loss after markets closed Wednesday and the stock notched up a new post-IPO low on Thursday.
Analyst reaction was a little mixed. Here’s a look at changes following the earnings report:
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