Morgan Stanley analyst James Faucette has maintained their bullish stance on FI stock, giving a Buy rating on October 24.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
James Faucette has given his Buy rating due to a combination of factors including the potential for Fiserv to stabilize and re-accelerate its fundamentals. Despite current investor skepticism regarding Fiserv’s ability to meet its medium-term targets, particularly in the Clover segment, Faucette believes that the company’s valuation is attractive if these fundamentals can show improvement.
Faucette acknowledges that the market is awaiting a “clearing event” such as a guidance revision to become more constructive on the stock. He highlights the importance of management’s communication in achieving 4Q targets and possibly updating medium-term goals. While there are concerns about slowing growth and increased competition, the spending environment remains supportive, and there is potential for Clover’s volume trends to improve, which could enhance investor confidence in the stock.
According to TipRanks, Faucette is a 4-star analyst with an average return of 4.5% and a 62.27% success rate. Faucette covers the Technology sector, focusing on stocks such as Endava, Block, and Accenture.
In another report released on October 24, BTIG also maintained a Buy rating on the stock with a $180.00 price target.