UPDATE: Goldman Sachs Downgrades Fiserv to Neutral on Limited Near-Term Catalysts

Goldman Sachs reduced its rating on Fiserv

from Buy to Neutral as it sees better value elsewhere at the moment. Goldman Sachs said, "We downgrade FISV to Neutral from Buy where following a 21% ytd return (vs. the S&P 500's 11.4% gain) we see lower multiple expansion. Since adding FISV to the Americas Buy List on October 19, 2011, the shares are up 24.3% vs. the S&P 500 up 15.7%%. Over the last 12 months, FISV shares are up 28.1% vs. the S&P 500 up 15.4%. … [A]t current valuation levels we see few near-term catalysts for multiple expansion, and while our 12-month price target reflects 12.9% upside from current levels, we believe that other stocks in our coverage universe offer higher return prospects." Fiserv closed at $71.31 on Friday.