Susquehanna analyst James Friedman lowered the firm’s price target on Fiserv (FISV) to $99 from $220 and keeps a Positive rating on the shares. The firm reduced estimates “significantly” to reflect reduced underlying growth assumptions for Fiserv. However, the firm believes mid-single digit growth is realistic for the company, helped by a “durable” Clover franchise, an installed base of core banking software clients, and “some dynamic solutions” like Zelle and Cashflow Central.
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