Fiserv Analysts Increase Their Forecasts After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Fiserv, Inc (NYSE:FI) reported better-than-expected Q4 financial results, with a 6% Y/Y revenue increase to $4.92 billion and adjusted EPS of $2.19, surpassing consensus estimates. The company also projected FY24 organic revenue growth of 15%-17% and adjusted EPS of $8.55-$8.70. Following the announcement, Fiserv shares rose 1.4% to $143.06. Analysts from Stephens & Co. and RBC Capital raised their price targets on Fiserv to $150 and $158, respectively.
February 07, 2024 | 5:23 pm
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Fiserv reported strong Q4 results and optimistic FY24 projections, leading to a 1.4% share price increase and raised price targets by analysts.
The positive earnings report and upward revision of future earnings and revenue projections typically lead to increased investor confidence and potential stock price appreciation. Analysts raising their price targets further validates the company's growth trajectory, likely contributing to short-term positive momentum.
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