UPDATE: Credit Suisse Reiterates Underperform Rating, Raises PT on Fiserv
In a report published Wednesday, Credit Suisse reiterated its Underperform rating on Fiserv (NASDAQ: FISV), and raised its price target from $70.00 to $74.00.
Credit Suisse noted, “We are reiterating our Underperform rating based on our belief that growth challenges will persist over the intermediate-term. However, given FISV's current valuation, solid FCF and ability to drive low double-digit adj. EPS growth over the near-term, downside is limited. We are bumping up our 12-month TP to $74 from $70, or 12x our 2014E adj. EPS.”
Fiserv closed on Tuesday at $75.25.
Latest Ratings for FISV
|Nov 2016||Pacific Crest||Initiates Coverage On||Sector Weight|
|Oct 2016||William Blair||Downgrades||Outperform||Market Perform|
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