Wedbush Starts Fidelity National Information Services (FIS) at Outperform
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Wedbush initiates coverage on Fidelity National Information Services (NYSE: FIS) with a Outperform rating and a price target of $92.00.
Analyst Moshe Katri commented, "We are initiating coverage with an OUTPERFORM rating and $92 price target, as we believe growth prospects as well as the stock's defensive nature are not fully captured in the current valuation. In our view, FIS is well regarded as a trusted advisor to FIs in a rapidly changing and disruptive market, which we believe provides the company with a stable/sticky revenue base. Furthermore, we expect results to benefit from SDS acquisition synergies, recent restructuring of Capco (consulting unit) as well as from easier LatAM comps. FIS's stock currently trades at 18.1X our projected FY17E adj. EPS."
Shares of Fidelity National Information Services closed at $79.26 yesterday.
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