Fiserv Inc

FI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$194.00	Hhsvh	Rqwrklvtm

Fiserv Earnings: Strong Growth and Margin Improvement Continue

Brett Horn

Oct 24, 2023

Fiserv produced another strong quarter, with organic growth accelerating a bit sequentially and the company continuing to see strong margin improvement. Revenue grew 8% year over year, or 12% on an organic basis. With Fiserv tracking ahead of expectations, management modestly lifted its 2023 guidance. We will maintain our $135 fair value estimate for the narrow-moat company and see shares as undervalued at the moment.

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