** Payments firm Fiserv FI.N cut its annual revenue growth and adjusted profit forecasts on Wednesday after downbeat results, and announced senior leadership changes

** FI had biggest single-day pct drop of 44% after results

** Shares down 4.33% in today's session

** At least 13 brokerages cut their PT

RECOVERY TO TAKE TIME

** Morgan Stanley ("Equal Weight", PT: $81) says the revamped strategy will take time to have measurable impact

** Adds consistent communication, clear path to improving and reliable performance to rebuild confidence

** Bernstein ("Market Perform", PT: $80) says "most painful downgrade we have ever had to do"

** The result "has shaken our confidence in the visibility the company has into its own business" - Bernstein

** J.P. Morgan ("Overweight", PT: $85) says the co needs to innovate to compete with digital rivals and service digital banking customers, potentially pressuring margins

** JPM also says new CEO is "relatively unknown" and may not instill the same trust as prior CEO

** Raymond James ("Outperform", PT: $91) says while a cut was largely expected, the magnitude was jarring; stock will be "in the penalty box" over the near-to-medium term

(Reporting by Utkarsh Tushar Hathi in Bengaluru)

((utkarshtushar.hathi@thomsonreuters.com))