Truist downgraded Fiserv (FI) to Hold from Buy with a price target of $75, down from $143, following Fiserv’s Q3 earnings miss, guide down, and more conservative commentary around go forward organic revenue growth and margins. The firm, which cut its 2027 adjusted EPS forecast by 30%, said its previous bull case centered around Clover being a high-quality acquiring asset that would continue to take market share and Fiserv screening as attractive on a growth-adjusted basis. However, the firm now struggles to “make either argument” and believes the turnaround story “will take a while to play out,” the analyst tells investors.
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