Raymond James analyst John Davis downgraded FIS (FIS) to Outperform from Strong Buy with a price target of $101, down from $115. The company had a strong 2024 that featured significant outperformance of the shares and multiple expansion on the heels of solid execution, the analyst tells investors in a research note. The firm continues to like FIS’s risk/reward entering 2025, but believes the lack of a near-term catalyst alongside the significant re-rating in the stock justifies a downtick in its rating.
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