Jefferies Reiterates Buy Rating on Fidelity National Information Services (FIS) Following Sell-Side Event

September 23, 2022 7:44 AM EDT
Get Alerts FIS Hot Sheet
Price: $74.06 +1.20%

Rating Summary:
    27 Buy, 13 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 2 | Down: 23 | New: 24
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Jefferies analyst Trevor Williams reiterated a Buy rating and $110.00 price target on Fidelity National Information Services (NYSE: FIS) following a sell-side event.

The analyst commented, "We attended a sell-side event with rising CFO Erik Hoag. Stated priorities of cost control and more predictability are welcome, and we left more optimistic that med-term targets could be revisited. ’23 EPS will move down on lower buybacks and higher interest exp., leading us to pencil out ~$7.30-7.40 as a potential starting point. Near-term challenged by soft UK and inflation cost pressures, but at ~10x P/E the stock is more than discounting the pending cuts."

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 $80.51 yesterday.

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