SQ - Fiserv gets new Buy rating at Loop on strength of Clover fintech investments

Loop Capital analyst Hal Goetsch has initiated coverage of Fiserv (NASDAQ:FISV) with a Buy rating as the payment technology firm is poised to benefit from the growth in digital payments, the adoption of its Clover point-of-sale operating system, and financial institutions and fintechs investing in financial technology. That outlook contrasts with Fiserv (FISV) stock trading near a five-year low on price-to-forward earnings, he added. He sets a price target of $125, just under the average Wall Street price target of $127. "We believe FISV enjoys a visible growth outlook and see signs of potential acceleration," Goetsch said in a note to clients. "The company's Acceptance segment has the potential to trend toward the higher end of the company's long-term growth rate outlook, driven by the adoption of Clover both domestically and with partnerships around the world." He pointed out that Clover exited 2021 with more than a $200B run rate

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Fiserv gets new Buy rating at Loop on strength of Clover, fintech investments