Truist Securities Downgrades Fidelity National Information Services (FIS) to Hold; 'Expect C22 Deceleration to Weigh'
- S&P ends modestly lower as rising Treasury yields offset robust retail data
- Electronic Arts (EA) Rebounds on Reaffirmed Guidance Despite Battlefield 2042 Delay, Be Concerned But Not Worried Says Analyst
- U.S. retail sales surprise to upside in strong boost to economy
- Chat Platform Discord Raises $500 Million, Valuation More Than Doubled In Less Than a Year
- Dollar index climbs after U.S. retail sales show surprise rebound
Truist Securities analyst Andrew Jeffrey downgraded Fidelity National Information Services (NYSE: FIS) from Buy to Hold with a price target of $155.00 (from $165.00).
The analyst commented, "We lower ratings on FIS and FISV to Hold, drop our PTs to $155 and $120 (21.4x and 19x C22E EPS) and maintain below-Street C22/C23 ests. While we see nothing wrong w/these cos, we expect valuations to contract as investors contemplate slowing Merchant segment organic rev growth and lack of strategic optionality. Both Fidelity and Fiserv have strong nonMerchant offerings, in our view, but we think slowing segment top-line growth will outweigh steadier Core Processing, Issuer Processing and other Payments performance. We expect stock price appreciation to lag 10%+ l-t EPS growth compounding."
Shares of Fidelity National Information Services closed at $146.86 yesterday.
You May Also Be Interested In
- UPDATE: Piper Sandler Downgrades Beyond Meat Inc. (BYND) to Underweight, IRI Points to a Miss
- Lundin Energy AB (LUNE:SS) (LNEGY) PT Lowered to SEK261 at Deutsche Bank
- Eni SpA (ENI:IM) (E) PT Lowered to EUR12.80 at Deutsche Bank
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!