Jefferies Reiterates Buy Rating on Fidelity National Information Services (FIS) Following Sell-Side Event
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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."
Shares of Fidelity National Information Services closed at $80.51 yesterday.
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