Deutsche Bank analysts provided their views on Fiserv, Inc. (NASDAQ:FISV) following their one-on-one meeting with the company’s Chairman, President and CEO Frank Bisignano to discuss the economic landscape and the company’s solid fundamentals.
To this point, the CEO sees consumer spending remaining stable or “hanging in there”, but would not be surprised to see a weakening environment take hold in the near future. However, he seems confident that the company will weather any economic storm well and still be able to solidly grow EPS even if the economy falters.
Indeed, given the company’s mix of business (arguably approximately 85% recurring revenue) and strong foundation, Frank believes the model could potentially hold up better than previous downturns. The analysts maintained their buy rating on the company’s shares following the meeting.