William Blair analyst Andrew Jeffrey has maintained their bullish stance on FI stock, giving a Buy rating on October 1.
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Andrew Jeffrey has given his Buy rating due to a combination of factors that suggest Fiserv is well-positioned for future growth. He believes that the company’s management will enhance its credibility by setting more realistic merchant segment organic revenue growth targets, which could lead to a positive market reaction. The anticipated growth, although lower than previous targets, is expected to remain above the market average, supported by Clover’s potential for midteens expansion.
Furthermore, despite a decline in Clover’s volume growth, Jeffrey sees significant opportunities in software-integrated SMB processing, indicating that the market is not dominated by a single player. He also highlights Fiserv’s rapid innovation in bringing new Clover products to market and expanding internationally. Additionally, the non-Clover business shows promising growth, particularly in enterprise organic revenue, reinforcing the overall positive outlook for Fiserv.
In another report released on October 1, TD Cowen also reiterated a Buy rating on the stock with a $188.00 price target.