FIS downgraded to Underperform at Exane BNP Paribas after payments survey

As previously reported prior to the open, Exane BNP Paribas analyst Thomas Poutrieux downgraded FIS (FIS) to Underperform from Neutral with an $80 price target citing downside risk to Capital Market Solutions growth, less support from non-operational items to adjusted EPS growth, and what it views as a “demanding valuation.” The firm ran its annual Payment Survey, with 3,000 consumers in the U.S., UK, Germany, France and Italy and said the results point to “another slow year ahead,” the analyst added.