TD Cowen analyst Bryan Bergin reiterated a Buy rating on Fiserv (FI – Research Report) today and set a price target of $277.00.
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Bryan Bergin’s rating is based on the consistent performance and growth potential of Fiserv’s Merchant segment, particularly driven by the strong performance of Clover, which exceeded growth expectations despite challenging market conditions. The company’s ability to sustain growth in its value-added services and its strategic pricing approach have contributed to its positive outlook. Additionally, Fiserv’s plans to expand internationally and the integration of new products and partnerships, such as with ADP, further enhance its growth prospects.
Furthermore, Fiserv’s financial stability, characterized by robust free cash flow generation and mid-teens earnings per share growth, supports the potential for further expansion of its market valuation. The company’s leadership transition is expected to focus on accelerating growth in Financial Solutions, with new products already showing promise. These factors contribute to Fiserv being seen as a favorable investment opportunity in the fintech and payments sector, justifying the Buy rating.
In another report released today, BTIG also maintained a Buy rating on the stock with a $240.00 price target.