Bryan Bergin, an analyst from TD Cowen, maintained the Buy rating on Fiserv (FI – Research Report). The associated price target was lowered to $233.00.
Bryan Bergin has given his Buy rating due to a combination of factors that highlight Fiserv’s potential for growth and resilience in the face of market challenges. Despite some investor concerns over recent performance metrics, Bergin believes that Fiserv’s diverse product offerings and strategic initiatives position it well to navigate macroeconomic volatility. The company’s ability to control growth levers and maintain a high proportion of non-discretionary revenue provides a strong foundation for future performance.
Bergin also notes that the recent pullback in Fiserv’s stock presents a buying opportunity, as the market reaction was seen as overly negative. With a robust mix of revenue sources and a durable earnings growth profile, Fiserv is viewed as one of the highest quality names in the fintech sector. The company’s strategic focus on expanding its product base and international presence is expected to drive significant revenue growth, making the current valuation attractive for investors.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $240.00 price target.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FI in relation to earlier this year.