Fiserv Inc

FI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$732.00	Vlkslq	Vgrgkxst

Acquiring Operations Lead Growth for Fiserv in Fourth Quarter

Brett Horn

Feb 8, 2022

Fiserv continued to see some bounce-back in its acquiring business in the fourth quarter, which led to 11% year-over-year growth for the business overall. We expect results to start to normalize as the company moves into 2022 but believe the narrow moat company continues to demonstrate its ability to adapt to an evolving market and that shares are undervalued from a long-term perspective. We will maintain our $121 fair value estimate.

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