Deutsche downgrades Fiserv on outlook concerns into earnings

Deutsche Bank downgraded Fiserv (FI) to Hold from Buy with a price target of $122, down from $175, ahead of the company’s Q3 earnings report. Fiserv is likely to lower its 2025 outlook amid deteriorating fundamentals, increasing competition, and a “looming” reinvestment cycle, the analyst tells investors in a research note. The firm believes Clover is being hurt by softer discretionary spending and growth challenges in geographies like Argentina.