UPDATE: Deutsche Bank Raises Target on Fiserv to $60

Deutsche Bank maintains its Hold rating on Fiserv (NASDAQ: FISV) and raises its price targe to $60 a share (previously $55) as it raises forward estimates on growth prospects.

Deutsche Bank says, "FISV reported 4Q11 adj revs of $1,084m (4% internal), slightly above our $1,078m (4% internal) and adj EPS of $1.27, below our $1.30 est due to lower margins. FISV missed FY11 guidance for adjusted operating margins and free cash flow, but did guide within our expectations for all key metrics for FY12. Trading at 8x EV/ EBITDA for CY12, we believe the shares are fairly valued given organic growth prospects. We are increasing our FY12E EPS $0.05 to $5.19."

FISV closed at $63.11 a share yesterday.