William Blair Downgrades Fiserv (FI) to Market Perform, 'Impossible to Sugarcoat'

William Blair analyst Andrew Jeffrey downgraded Fiserv (NYSE: FI) from Outperform to Market Perform.

The analyst comments "Downgrading to Market Perform. We can no longer recommend Fiserv given what we consider a shocking third-quarter revenue and EPS miss and abrupt management transition. It is our view that relatively new CEO Mike Lyons is now in a difficult position as he and his team try to figure out what went wrong. In addition, we have low conviction in the underpinnings of Fiserv’s merchant competitive position. While we have adjusted or model, we have little visibility into how accurate our assumptions are."

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 $126.17 yesterday.

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