Mizuho sees near-term catalysts for Fiserv Inc By Investing.com

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Mizuho sees near-term catalysts for Fiserv Inc

Published Jun 09, 2023 13:42

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Mizuho sees near-term catalysts for Fiserv Inc

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Mizuho analysts reiterated a Buy rating and $140 price target on Fiserv Inc (NYSE:FI) in a note to clients Friday.

They told investors that the firm recently hosted a group dinner with the company's president and CEO, Frank Bisignano.

The dinner had an upbeat tone, said the analysts, with near-term catalysts and long-term upside discussed. "Overall sentiment was very upbeat, and the CEO sounded confident in achieving FY targets," they wrote.

"Most important positive takeaways included: reaching product parity with TOST by next year, leveraging Fiserv's distribution to double wallet share with its existing bank partners, and pursuing opportunistic tuck-ins to boost software capabilities."

"In our view, Fiserv's new peers should be Adyen (NC) and Stripe (private), given its organic growth outperformance vs. legacy peers," the analysts concluded.

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