Goldman Sachs and Wells Fargo Cut Fiserv (FISV) Price Targets

Goldman Sachs cut its price target on Fiserv (NASDAQ:FISV) from $70 to $60, maintaining a Neutral rating, according to a July 9 note. Wells Fargo also lowered its price target on the stock, though details were not disclosed.

Rating Change

• Goldman Sachs: Price target cut from $70 to $60, Neutral rating maintained.
• Wells Fargo: Price target cut (new figure not disclosed).

Analyst Rationale

Goldman Sachs analyst Will Nance noted that the payments sector appears weak, prompting the estimate reduction. No further specifics were provided.

Context

The cuts follow a weak performance for Fiserv shares, which have fallen about 15% over the past three months. Other analysts have also recently downgraded the stock, reflecting broad caution in the fintech space.

What We Conclude

Price target cuts from two major investment banks suggest cautious near-term expectations for Fiserv, especially given weakness in payments. However, the Neutral rating implies no outright sell recommendation.