FIS price target lowered to $113 from $126 at Compass Point

Compass Point lowered the firm’s price target on FIS (FIS) to $113 from $126 and keeps a Buy rating on the shares. FIS management is “trying to build trust with investors,” and that is hard to do when banking revenue grew 1.5% year-over-year in Q4 and Q1 adjusted revenue growth is expected to be 0.5%-1.5% year-over-year, the analyst says. The firm expects the stock to be range bound until the Q2 report, but believes the stock will react more positively upon Q2 if banking recurring versus non-recurring revenue is the driver of total banking revenue growth, the analyst tells investors.