Duncan-Williams Downgrades Fidelity National Information Services (FIS) to Buy
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Duncan-Williams downgrades Fidelity National Information Services (NYSE: FIS) from Strong Buy to Buy. Price Target $28.
Duncan analyst says, "Following FIS 3Q09 results, we are raising our twelve-month price target to $28 from $27, but with in less than 20% potential upside to our new target,, we are reducing our rating to Buy from Strong Buy. Overall, we thought FIS results were mixed with revenues slightly below our expectations, margins is a significantly above our expectations, and EPS in-line...However, we are leaving our 2010 EPS estimate unchanged at $1.95 based on FIS strong margin performance. The company is tracking ahead of plan on expected merger synergies.... We are reducing our 2010 revenue estimate to $5.316bn from $5.460bn."
To see more analyst ratings on FIS Click Here.
Fidelity National Information Services, Inc. provides technology solutions, processing services, and information-based services to the financial services industry.
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