Morgan Stanley downgraded FIS (FIS) to Equal Weight from Overweight with a $79 price target. The analyst says most of the expected price upside related to better banking growth, cost actions, management communication, and Worldpay sale have been priced into the shares. The firm now sees Fiserv (FI) and Global Payments (GPN) as better beneficiaries of an easing competitive landscape. It thinks FIS ‘s current valuation adequately reflects its earnings potential going forward.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FIS:
Questions or Comments about the article? Write to editor@tipranks.com