DA Davidson Downgrades Fiserv (FISV) to Neutral; Valuation Call

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DA Davidson downgraded Fiserv (NASDAQ: FISV) from Outperform to Neutral with a price target of $75.00.

Analyst, John Kraft, said, "FISV has invested heavily in integrating an existing suite of products and is now well positioned to take advantage of this steadily recovering spending cycle. Given the shares’ outperformance and valuation, we increasingly feel this optimism is priced in the shares."

Kraft raises FY12 EPS estimate from $5.12 to $5.20 and FY13 from $5.65 to $5.85.

For an analyst ratings summary and ratings history on Fiserv click here. For more ratings news on Fiserv click here.

Shares of Fiserv closed at $70.75 yesterday, with a 52 week range of $48.75-$71.74.

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