FISV - Fiserv investor day is expected to offer robust growth message Baird says

Fiserv (FISV) could exit the week at $120+ following its investor day on Tuesday, where Baird analyst David J. Koning expects management to indicate 2021 EPS growth over 20% and bullish comments on revenue/expense synergies related to its First Data acquisition.Sees 15%+ EPS growth for a few years after 2021, writes Koning, who has an Outperform rating on FISV and designates the stock a "Fresh Pick."Stock could rise to ~$150 a year from now, he adds; that implies ~28% jump from Friday's price.Koning thinks some key messages could include: merchant segment (which accounts for ~40% of total business) growth about high-single digits over the next three to five years and 10%+ in 2021E, driven by Clover/eComm;Financial/payments growth near mid-single digits over time;Meaningful margin expansion from both core and synergies;Free cash flow above earnings driving significant buybacks (5%+ of shares per year could be the norm).Koning says valuation could bounce back

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Fiserv investor day is expected to offer robust growth message, Baird says