Fiserv (FI) PT Raised to $187 at Argus

Argus analyst Stephen Biggar raised the price target on Fiserv (NYSE: FI) to $187.00 (from $173.00) while maintaining a Buy rating.

The analyst comments "Raising target following 2Q EPS beat and increased 2024 guidance • On July 24, Fiserv reported adjusted 2Q EPS of $2.13, up from $1.81 a year earlier and above the consensus of $2.10. • Operating margins expanded on good cost control, and the company raised operating margin expansion goals for 2024 to at least 135 basis points from a prior 125 basis points. • Management now projects 2024 adjusted EPS of $8.65-$8.80, up from a prior $8.60-$8.75 and representing 15%-17% growth. • We are raising our 2024 and 2025 EPS estimates. We are also increasing our target price to $187 from $173."

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