Wells Fargo Downgrades Total System Services (TSS) to Market Perform; Valuation Call

Wells Fargo downgraded Total System Services (NYSE: TSS) from Outperform to Market Perform, price target range $22-24.00.

Analyst, Timothy Willi, said, "We are downgrading TSS based on valuation as there is little upside potential (3%) to the high end of our $22-24 range, which is unchanged. Although Q1 results were solid and the high end of TSS's 2012 guidance appears readily achievable, we believe the current valuation accurately reflects the balance of near-term opportunities for TSS and longer-term opportunities resulting from a modestly growing U.S. market and stronger secular growth in international markets...Our 2012/2013 EPS estimates are unchanged at $1.28/$1.40."

For an analyst ratings summary and ratings history on Total System Services click here. For more ratings news on Total System Services click here.

Shares of Total System Services closed at $23.20 yesterday.

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