UPDATE: D.A. Davidson Reiterates Neutral Rating, Raises PT on Fiserv

In a report published Wednesday, D.A. Davidson & Co. reiterated its Neutral rating on Fiserv

, and raised its price target from $75.00 to $78.00. D.A. Davidson noted, “Maintaining NEUTRAL. We feel much of the aforementioned optimism is priced into the shares and it's hard to get terribly excited about purchasing at current levels. Given the modest increase to our estimates, we are raising our price target to $78 from $75, representing an EV/EBITDA multiple of 8.8x and a P/E multiple of 13.5x our 2013 estimates.” Fiserv closed on Tuesday at $75.25.