Jefferies analyst Trevor Williams downgraded FIS to Hold from Buy with a price target of $75, down from $95. The analyst sees a tough near-term outlook and further risk to fiscal 2023 estimates. Consensus estimates currently bake in close to a best-case scenario in terms of the timing and magnitude of FIS’s cost savings, Williams tells investors in a research note. The path to the stock re-rating in the near-term is challenging as its banking growth decelerates, margins remain under pressure and with its Merchant business in the midst of a multi-year transition, contends Williams.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on FIS:
- 3 Tech Stocks That Could Use a New CEO Immediately
- Fidelity National Information Services call volume above normal and directionally bullish
- Unusually active option classes on open December 1st
- Bernstein sees FIS as ‘good candidate’ for potential activist involvement
- FIS to participate in a conference call with JPMorgan
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue