Monday, May 19, 2008

High Five for Fiserv

“We are upgrading our rating on Fiserv from ‘Market Perform’ to ‘Market Outperform’ and are establishing a 12-month target price of $62. We are basing our rating on several factors, including the reversal of the Bank of America in-house risk, the exploration of re-branding initiatives geared towards large banks, channel checks indicating relative price stability among a wide range of product categories, and generally positive bank spending trends reported by several other companies subsequent to Fiserv's first-quarter call.”

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