BofA notes that Fiserv’s (FI) “highly-regarded” Chairman and CEO Frank Bisignano has been tapped by President-elect Trump to lead the Social Security Administration and the firm expects shares to trade lower today on this “unexpected news.” While Bisignano has been a very prominent figure in Fiserv’s success over the past few years, the firm believes the company has a strong bench of talent and notes the “upbeat tone” from CFO Bob Hau’s fireside chat at an investor conference. BofA has a Buy rating and $214 price target on Fiserv shares, which are down $11.86, or 5.5%, to $203.99 in pre-market trading.
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