Citi Reiterates Buy on Fiserv

Citi is out with its report today on Fiserv

, reiterating Buy. In a note to clients, Citi writes, "We reiterate our Buy (1M) rating and $75 target price for FISV (15X 2012E EPS). We believe FISV is well-placed to have a solid 2H-2011 performance, with revenue growth and EPS safely in the upper half of its guided range. We are raising our estimates to be modestly above-consensus – while the gap is not material we note that FISV stock tends to react meaningfully to its quarterly results. The relative stability of the Fiserv business and financial model makes it relatively more attractive in a volatile market, in our view." Citi has a $75 PT on FISV. Shares of FISV closed Thursday at $63.66