Truist Securities Starts Fiserv (FI) at Buy, 'high-quality, well-scaled integrated payments busines'

Truist Securities analyst Matthew Coad initiates coverage on Fiserv (NYSE: FI) with a Buy rating and a price target of $181.00.

The analyst comments "Fiserv is a high-quality, well-scaled integrated payments business that simply entered the year with too high of expectations. We expect management to cut guidance on one of the upcoming earnings calls, as 10-12% FxN organic revenue growth is too lofty of a target in this macro backdrop (we model HSD growth). That said, we view the shares as attractive here following the over -20% YTD decline and believe that Fiserv screens as attractive on a growth-adjusted basis vs. peers like FIS and Global Payments."

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 $162.79 yesterday.

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