Fiserv (FI) to Acquire Payfare; Keefe, Bruyette & Woods Reiterates Outperform Rating

Keefe, Bruyette & Woods analyst Sanjay Sakhrani reiterated an Outperform rating and $238.00 price target on Fiserv (NYSE: FI).

The analyst said: "FI has entered into an agreement to acquire Payfare, a Canadian Earned Wage Access and Embedded Finance specialist for gig economy workers for CAD$201.5 million or roughly USD $140 milllion.

This is a small tuck-in acquisition for FI and will enhance their delivery of embedded finance solutions for its clients. Recall, FI won a relationship with DoorDash (from Payfare) to offer comprehensive financial services within its online delivery platform and this acquisition could accelerate the implementation process."

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 $206.71 yesterday.

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