FISV Stock Clocks Best Day In Over 2 Decades: Goldman Sachs Hikes Price Target But Notes Full Turnaround Will Take Time

(MENAFN- AsiaNet News)

• Nance said that while investors were concerned about another guidance revision against a steep ramp in Q4 implied guidance, a reiteration of future guidance was well received.
• Nance noted that the turnaround will still take time to fully take effect.
• Baird also raised the price target on FISV stock to $70 from $62 and maintained an 'Outperform' rating on the shares.

Fiserv, Inc. (FISV) stock soared more than 12% on Tuesday and notched its best single-day climb since April 2004 following the company's strong third-quarter results that beat Wall Street expectations. 

Goldman Sachs analyst Will Nance raised the price target on Fiserv to $61 from $56 and maintained a 'Neutral' rating on the shares after its Q3 earnings beat. The revised target implies an upside of about 4.45% from its last close. 

Analyst Rationale On FISV Stock Target Hike

Nance said that while investors were concerned about another guidance revision against a steep ramp in Q4 implied guidance, a reiteration of future guidance was well received, the analyst said, according to The Fly. 

However, Nance noted that the turnaround will still take time to fully take effect.

Meanwhile, Baird also raised the price target on FISV stock to $70 from $62 and maintained an 'Outperform' rating on the shares.

FISV Stock: Q3 Snapshot 

Fiserv posted adjusted earnings per share (EPS) of $1.75, beating consensus estimates. Meanwhile, revenue declined 1% to $5.20 billion, but came in ahead of Wall Street expectations. 

The company also raised its Project Elevate savings target to $1 billion from $500 million after a portfolio review. Fiserv reaffirmed its 2026 adjusted EPS guidance of $7.20 to $7.40 and organic revenue growth outlook of negative 1% to flat. 

The company also expects to repurchase $500 million of shares in the fourth quarter. 

FISV Stock: Retail Stance

On Stocktwits, retail sentiment around FISV stock was 'extremely bullish' at the time of writing, with message volumes up about 850% over 24 hours, as per platform data. 

One user said,“$FISV well, we still have time in November... but this is the action I was expecting. Job well done FISV.”

Another user said,“$FISV Now imagine the positive mid term results which can push the oil prices down and reignite the spending? cant think of safer stock to own / buy.”

FISV stock is down about 13% year-to-date. 

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