2024-02-24 04:03:58 ET
Summary
- Fiserv had a strong performance in 2023, beating their guidance and showing growth in their merchant acceptance division.
- The company's 2024 outlook is positive, with continued growth and margin expansion expected.
- Organic growth rates are distorted by currency effects in Argentina, and adjusting for this reveals a more realistic growth rate for the company.
Introduction
Fiserv ( FI ) was the first stock I covered for Seeking Alpha. I laid out how growth at their merchant acceptance business will drive share price performance and rated it a buy. I followed up with several reports you can find here and here if you are unfamiliar with the company. However, my last article on FI was over a year ago when the share price was around $115. With FI now trading at $150 I feel it is time to revisit the company again and see if it still warrants a buy rating. I will assume some general familiarity with Fiserv and its business units for the rest of this article. Otherwise please feel free to read up my prior articles linked above.
I will first discuss Q4/23 and FY 2023 results as well as their outlook for 2024. This will be based on their 10-k , their Q4 presentation , earnings release and conference call transcript ....
Read the full article on Seeking Alpha
For further details see:
Fiserv: Currency Effects Distort Organic Growth Rates But Still A Buy