BTIG has assigned a “Buy” rating on Fiserv Inc (NYSE: FI) shares, as considerable investment initiatives put the company on course for high single-digit/low double-digit growth during the upcoming several years.
According to BTIG analyst Andrew Harte, Fiserv’s cash flow may grow even faster as operating margins expand and capital expenditure investment stabilizes.
“While FI is typically the 800-pound gorilla in the room, the company and its investment story are far from stale as its ~$5B in annual free cash flow enables a virtuous cycle of reinvestment into its most attractive growth assets, while at the same time returning capital to shareholders and diligently acquiring businesses to create shareholder value,” Andrew Harte wrote in an investor note.
Stock Performance
The shares of Fiserv Inc (FI) closed 0.65% ($1.12) higher at $172.95 in New York on Thursday.
It has been a fresh all-time high closing price level for the stock.
The company’s total market cap now stands at $99.572 billion.
The shares of Fiserv Inc (FI) went up 31.43% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).
The company’s shares have risen 30.19% so far this year.
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