BMO Capital analysts raised their price target for Fiserv (NYSE:FI) to $232, up from $222, while reiterating an Outperform rating. The adjustment reflects potential upside in revenue estimates and justified valuation expansion amid ongoing fintech sector momentum.

While Fiserv shares have already risen 58% year-to-date, the analysts identified areas where expectations may still be conservative, particularly within the Merchant Solutions segment. The company’s Clover and Carat platforms are positioned to meet or exceed targets, leaving room for consensus revenue estimates to rise in the coming quarters. Furthermore, easing macroeconomic headwinds in Latin America could provide an additional boost to growth.

The new price target, rolled forward a quarter, implies a valuation of approximately 19 times two-year forward rolling price-to-earnings, highlighting confidence in Fiserv’s ability to sustain its growth trajectory and capitalize on favorable industry trends.