Fiserv price target lowered to $237 from $270 at RBC Capital

RBC Capital lowered the firm’s price target on Fiserv (FI) to $237 from $270 but keeps an Outperform rating on the shares after its Q1 results. The company’s sequential deceleration in Clover volumes and normalized Merchant organic revenue growth, coupled with a crowded long bent into the print and second-half ramp implied in FY25 guidance, are all weighing on the stock, the analyst tells investors in a research note. RBC adds however that it would be buyers into the weakness, as the second half ramp looks doable.