UBS Reiterates Buy Rating on Fiserv (FI)

UBS analyst Timothy Chiodo reiterated a Buy rating and $225.00 price target on Fiserv (NYSE: FI).

The analyst commented, "Clover analysis of both GPV & revenue components required to arrive at ~$4.5b of revenue in 2026: This report serves as a reference for Fiserv's Clover growth strategy and provides a detailed analysis of the components of volume and revenue growth required for Clover to arrive at the targeted ~$4.5b in revenue in 2026 (implied ~29-30% YoY growth in 2026). Our analysis implies the ~$4.5b revenue target is reasonable, but requires either faster GPV growth than our base case ~13% 2026E (which includes a degree of backbook conversion benefit) or a combination of continued strong Clover Capital contributions, a now ramping Clover Argentina anticipation business (including a backbook conversion within Argentina), increased direct mix (higher reported revenue yield on reported adjusted net revenue), and a degree of pricing benefits. And while we expect growth beyond 2026 to decelerate, we see continued growth support stemming from backbook conversion (which will persist beyond 2026), five new country launches (bringing the international total to 14 markets, with the five recent launches plus Belgium adding ~$2tr of card volume in these markets vs. ~$12tr in the US), ADP as a distribution partner, CashFlow Central, etc. Excel analysis available by request."

For an analyst ratings summary and ratings history on Fiserv click here. For more ratings news on Fiserv click here.

Shares of Fiserv closed at $162.79 yesterday.

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