The good news continues .....
Wednesday July 30 4:42 PM EDT
Company Press Release
Piper Jaffray Initiates Coverage of First Data Corp. - FDC - With A
Buy Rating
MINNEAPOLIS--(BUSINESS WIRE)--July 30, 1997--Piper Jaffray is initiating coverage today of First Data Corp.
(FDC) with a Buy rating.
Senior Research Analyst Bill Burnham made the announcement today as part of the initial rollout of the Electronic
Commerce universe, a major new technology product initiative at Piper Jaffray.
``First Data is the single largest third party electronic payment processor in the world and well positioned to benefit from
the slow but inevitable shift away from paper-based to electronic payments,'' said Burnham. ``We also believe that the
move towards a single currency and further deregulation in the European banking sector bodes well for the long term
growth of First Data's international operations. In addition, the company's string focus on opportunities in the payment
information and Electronic Commerce areas should lead to strong growth as these markets grow rapidly in the coming
years.''
First Data is the bellwether company of the electronic payment sector within Piper Jaffray's Electronic Commerce
Universe. On August 5, Piper Jaffray will release to the press ``The Electronic Commerce Report'' authored by Burnham.
This highly provocative 250 page report provides the first comprehensive examination of the Electronic Commerce
Industry and includes groundbreaking analysis of and projections for growth of Electronic Commerce. Topics covered in
the report include potential problems with the Secure Electronic Transaction (SET) standard, the ``death'' of the current
payment system, the coming struggle between Electronic Data Interchange (EDI) and Direct Data Interchange (DDI), and
the future battle between brands and intelligent agents on the Internet.
Prior to joining Piper Jaffray in 1997, Burnham was a senior associate at the management consulting firm of Booz, Allen
& Hamilton in New York where he led the firm's global efforts to understand the impact of the Internet on the world's
financial system. He is the author of several studies in the area of electronic commerce and is a frequent speaker and
writer on the topic. Burnham's work has been chronicled by national and international media and he is frequently quoted
as an industry expert on the topic.
Piper Jaffray Inc.- a subsidiary of Piper Jaffray Companies Inc. has built a growing reputation as one of the nation's
premier investment banking firms by focusing on the needs of growth companies in the health care, technology, financial
institutions, consumer and industrial growth industries. Operations are headquartered in Minneapolis, Minn., with
additional corporate finance offices in Seattle, Chicago, and Menlo Park, Calif., and capital markets offices in 16 cities.
Piper Jaffray Inc. also has 80 retail sales offices in 17 Midwest, Mountain, Southwest and Pacific Coast states. Other
subsidiaries include Piper Capital Management Inc. a money management company with approximately $9 billion in
assets under management; Piper Trust Company, which provides trust services to individuals and institutions; and Piper
Jaffray Ventures, a private equity venture capital firm investing in emerging growth companies. Founded in 1895, Piper
Jaffray is a member of SIPC, the New York Stock Exchange and other major stock exchanges. For more information
about Piper Jaffray Companies, visit our Web site on the Internet at piperjaffray.com.
Contact:
Piper Jaffray, Minneapolis
Bill Burnham, 612/342-5540 (Research)
or
Tony Saffold
612/342-6594 (Corporate Communications) |
