UPDATE: JP Morgan Reiterates Neutral, Ups PT to $68 on Fiserv

JP Morgan maintains its Neutral rating on Fiserv

as it believes expansion will be caped until organic growth picks up. Its price target is raised to $68 from $62. JP Morgan says, "We are Neutral FISV shares as we believe multiple expansion will be limited until organic top-line growth accelerates. Although we like FISV's strategy and execution, we believe revenue growth could remain muted as regulatory compliance spend takes a greater share of bank IT spending and end client consolidation creates greater pricing pressure and attrition. Near-term, we believe share appreciation could be capped as FISV remains a 4Q story." FISV closed at $59.72 per share on Wednesday.