Barclays Maintains an 'Equalweight' on Fiserv (FISV); Investor Day Takeaways Constructive on Earnings Model Defensiveness
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Price: $52.58 +2.34%
Rating Summary:
25 Buy, 17 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
25 Buy, 17 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' on Fiserv (NASDAQ: FISV) price target lowered from $65 to $63.
Barclays analyst says, "FISV's ability to accelerate growth longer term remained a key focus of yesterday's investor meeting, with management reiterating long-term targets and providing some new details to help bridge from 2011 guidance (which is still tracking in line) to 4-8% internal revenue growth. We did not find takeaways materially incremental to our view of the company's long-term opportunities (and what is likely to be a gradual pace of realizing this step-up in growth). However, we believe the presentation underscored the defensiveness of the business model and suspect that should material macro uncertainty persist, FISV's earnings power and cash flow resilience (which is likely to hold up relatively well versus the market in the case of a more pessimistic economic growth scenario) may offer value for investors willing to wait for more material contribution from the company's newer initiatives."
For more ratings news on Fiserv click here and for the rating history of Fiserv click here.
Shares of Fiserv closed at $54.98 yesterday.
Barclays analyst says, "FISV's ability to accelerate growth longer term remained a key focus of yesterday's investor meeting, with management reiterating long-term targets and providing some new details to help bridge from 2011 guidance (which is still tracking in line) to 4-8% internal revenue growth. We did not find takeaways materially incremental to our view of the company's long-term opportunities (and what is likely to be a gradual pace of realizing this step-up in growth). However, we believe the presentation underscored the defensiveness of the business model and suspect that should material macro uncertainty persist, FISV's earnings power and cash flow resilience (which is likely to hold up relatively well versus the market in the case of a more pessimistic economic growth scenario) may offer value for investors willing to wait for more material contribution from the company's newer initiatives."
For more ratings news on Fiserv click here and for the rating history of Fiserv click here.
Shares of Fiserv closed at $54.98 yesterday.
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