Wells sees buying opportunities in Fiserv peers on sympathy selloff

Wells Fargo sees buying opportunities in FIS (FIS), Global Payments (GPN), Block (XYZ) and Toast (TOST) with the stocks trading down in sympathy with Fiserv (FI). Fiserv’s issues are largely company-specific and execution related, which is likely benefitting its peers, the analyst tells investors in a research note. As such, Wells believes read-throughs from the company’s earnings report to peers are “misguided.” The firm still expects FIS, Global Payments, Block and Toast to report solid results.