Pacific Crest Starts Fidelity National Information Services (FIS) at Overweight
- Wall Street lower as oil snaps four-day rally
- Equinix (EQIX) Announces $3.6B Acquisition of Data Center Portfolio from Verzion (VZ)
- Deal Progress Said to Slow as Johnson & Johnson (JNJ) Puts Actelion (ALIOY) Under Microscope - Source
- Trump Wants to Cancel New Air Force One Order with Boeing (BA)
- Roper Industries (ROP) to acquire Deltek in $2.8B Deal
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Pacific Crest initiated coverage on Fidelity National Information Services (NYSE: FIS) with an Overweight rating and a price target of $86. Analyst Arvind Ramnani said FIS is a dominant provider in a stable market.
"We believe FIS' dominant position in the core bank processing market provides a highly stable, recurring and sticky revenue stream. Its SunGard acquisition provides greater scale, complementary capabilities and cost-saving synergies. Its global presence and digital offerings could deliver upside to revenue growth," said Ramnani.
Shares of Fidelity National Information Services closed at $75.87 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Downgrades PennTex Midstream Partners, LP (PTXP) to Hold
- UPDATE: Stifel Upgrades Antero Midstream Partners LP (AM) to Buy
- Wedbush Starts William Lyon Homes (WLH) at Neutral
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesPacific Crest Securities, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!