Fiserv price target raised to $105 from $95 at Truist

Truist analyst Andrew Jeffrey raised the firm’s price target on Fiserv to $105 from $95 but keeps a Hold rating on the shares. The analyst is "impressed" by the company’s above-trend Acceptance growth rate and notes that the firm’s expectations may have understated Fiserv’s competitive advantage. Truist adds however that Fiserv’s price to earnings multiple premium to Legacy peers is likely "unsustainable" as its organic revenue growth normalizes.