Fiserv price target lowered to $240 from $250 at Susquehanna

Susquehanna analyst James Friedman lowered the firm’s price target on Fiserv (FI) to $240 from $250 and keeps a Positive rating on the shares. The firm said tepid 1Q growth combined with reiterated annual guide make for a more back-end-loaded year at a time when economic visibility seems limited. While they had expected potential GPV headwinds starting in 2Q due to consumer adjustments in response to the impact of tariffs, the 1Q merchant print and potentially the 2Q year over year Clover comp seemed noisy.