FISV - Fiserv price targets raised on 'robust' long-term outlook

At yesterday's investor day, Fiserv (FISV) reaffirmed its 2020 EPS outlook of 11% Y/Y growth and provided FY21 targets that included 7-12% revenue growth and 20-25% EPS growth. The company also guided 7-9% annual revenue growth for FY21 and FY22 with EPS up 15-20%.Guggenheim (Buy) raises its Fiserv price target from $130 to $147, praising the "robust" outlook that was "above our expectations, and we expect this will be well-received by investors."Raymond James (Outperform) lifts Fiserv's target from $120 to $132, saying the earnings growth was in-line with estimates but "the top-line growth outlook was better and just hitting the midpoint will likely provide upside to the top-end of EPS guidance." The firm also sees "meaningful upside to the stock" if Fiserv should hit or beat that top-line midpoint.Fiserv shares are currently down 1.6% to $116.08. Earlier today, Fiserv announced a secondary offering and repurchase program.Now find out why Seeking Alpha assigns Fiserv an A for its Growth Grade.

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Fiserv price targets raised on 'robust' long-term outlook