Fiserv price target raised to $173 from $163 at Argus

Argus raised the firm’s price target on Fiserv to $173 from $163 and keeps a Buy rating on the shares after its Q1 earnings beat. The company’s operating margins expanded on good cost controls, and Fiserv also raised its operating margin expansion goals for 2024 to at least 125 basis points, from a prior 100 basis points, the analyst tells investors in a research note. Fiserv should also benefit from strong technology spending by its bank and credit customers, Argus added.