Stephens analyst Charles Nabhan raised the firm’s price target on FIS to $72 from $69 and keeps an Overweight rating on the shares. Coming out of Q2, the firm believes the key focal point is the trajectory of Banking revenue growth, which is a key catalyst for multiple expansion for the company, the analyst tells investors. Stephens believes the company’s recurring revenue growth and macro stability should solidify its outlook for 2023.
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