Fiserv upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs upgraded Fiserv (FI) to Buy from Neutral with a price target of $260, up from $246. The firm expects accelerating momentum across the company’s Merchant and Financial Solutions, driven by continued growth in Clover. Fiserv continues to execute on cross-sell initiatives between Financial Solutions and Merchant, the analyst tells investors in a research note. Goldman believes the recent underperformance across the fintech ecosystem provides an attractive entry point as Fiserv “delivers accelerating growth in the Financial Solutions business.” It sees an attractive valuation at current share levels.