Cowen Starts Fidelity National Information Services (FIS) at Outperform

Cowen initiates coverage on Fidelity National Information Services (NYSE: FIS) with a Outperform rating and a price target of $80.00.

Analyst George Mihalos commented, "We initiate coverage with an Outperform rating and $80 price target – 17x our CY17 pro forma adj. EPS estimate of $4.74 (includes SunGard). At 16x our 2016E EPS on a pro forma basis, FIS trades at a ~27% valuation discount to peers FISV & JKHY. With growth set to accelerate over 2H15 and deal accretion, we think shares are cheap and would advise investors to capitalize on the valuation disparity."

For an analyst ratings summary and ratings history on Fidelity National Information Services click here. For more ratings news on Fidelity National Information Services click here.

Shares of Fidelity National Information Services closed at $66.50 yesterday.

You May Also Be Interested In

• Cleveland Research Upgrades Dynatrace Inc. (DT) to Buy, 'optimism underlying fundamentals are likely to support upside'
• Morgan Stanley Assumes Match Group (MTCH) at Equalweight
• Mizuho Starts Regency Centers (REG) at Neutral