FIS price target raised to $87 from $80 at Morgan Stanley

Morgan Stanley raised the firm’s price target on FIS (FIS) to $87 from $80 and keeps an Equal Weight rating on the shares. Banking and Capital Markets continued to show “healthy underlying trends” in Q3, while earnings outperformance continued to be helped by Worldpay, though this may face some headwinds next year as opex ramps, the analyst tells investors. The firm views valuation as fair and thinks there are better risk/reward skews elsewhere in Payments, the analyst added.