Fiserv price target raised to $224 from $183 at RBC Capital

RBC Capital raised the firm’s price target on Fiserv (FI) to $224 from $183 and keeps an Outperform rating on the shares after its Q3 earnings beat. Fiserv continues to display the durability of its growth in the face of a slowing consumer spending environment, which it can continue to offset through both VAS – Value-Added Services – penetration, expansion of its verticalized software set, and unique advantage in distribution, especially as it looks to bring Clover into international markets, the analyst tells investors in a research note.