BMO Capital analyst Rufus Hone initiated coverage of Fiserv with an Outperform rating and $152 price target. The company has delivered double-digit EPS growth for 37 consecutive years and BMO sees “no sign of this streak ending,” the analyst tells investors. The firm views Fiserv’s incumbency and scale in distribution as a key competitive advantage and it expects organic growth to benefit from a shift towards a higher quality and higher-growth mix of tech/software enabled products, the analyst added.
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