UPDATE: JP Morgan Raises PT on Fiserv from $66 to $67

J.P. Morgan has published a report on Fiserv

raising the price target a dollar from $66.00 to $67.00. In the report, J.P. Morgan noted, "Fiserv's 2Q was pretty solid all around, with the exception of a lowered margin outlook to accommodate investments without sacrificing full-year EPS targets. FISV is now more confident in the high end of EPS (new disclosure) growth range of 9-12%, which is where we were (and remain) given lower debt costs, but we feel more confident now as the demand environment sounds marginally better and regulation clarity should help. It was nice to see revenue upside (3% internal growth vs. JPMe 2%) on inline margin drive the bulk of EPS upside of $0.06 ($0.02 from tax)." J.P. Morgan rated Fiserv a Neutral with a price target raised from $66.00 to $67.00. Fiserv closed Tuesday at $61.51.