Fiserv price target lowered to $56 from $62 at Wells Fargo
Wells Fargo lowered the firm's price target on Fiserv to $56 from $62 and keeps an Equal Weight rating on the shares. The firm views Q2 estimates as achievable, but the print is unlikely to move shares higher given steep second half of the year ramp and recent/sudden CEO change. Focus areas include merchant transaction guidance, management transition, visibility on second half of the year acceleration, core banking business, and potential debit network sale, Wells adds.
Wells Fargo lowered the firm's price target on Fiserv to $56 from $62 and keeps an Equal Weight rating on the shares.
The firm views Q2 estimates as achievable, but the print is unlikely to move shares higher given steep second half of the year ramp and recent/sudden CEO change.
Focus areas include merchant transaction guidance, management transition, visibility on second half of the year acceleration, core banking business, and potential debit network sale, Wells adds.