Fiserv price target raised to $135 from $120 at Stephens

Stephens raised the firm’s price target on Fiserv to $135 from $120 and keeps an Equal Weight rating on the shares after the company introduced FY24 targets, updated its medium-term outlook, and provided incremental color on key drivers during its investor day earlier this week. In the near term, the FY24 guidance assumes a year-over-year acceleration in revenue growth to 11%-13% from 11% and adjusted EPS of 7.7%, which was “largely within expectations,” the analyst tells investors.