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UPDATE: Credit Suisse Reiterates Underperform Rating, Raises PT on Fiserv

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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

DateFirmActionFromTo
Mar 2017GuggenheimInitiates Coverage OnNeutral
Jan 2017BMO CapitalInitiates Coverage OnMarket Perform
Nov 2016Pacific CrestInitiates Coverage OnSector Weight

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Posted-In: Credit SuisseAnalyst Color Price Target Analyst Ratings

 

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