Commenting on a blog report regarding rumors that FIS may have attracted interest from a potential strategic buyer, Baird analyst David Koning said his "general guess" is that FIS could valued at about 11 to 13 times EBITDA in such a scenario, which he estimates would equate to about $85-$105 per share. The analyst, who thinks the stock is inexpensive at its current valuation, has an Outperform rating and $84 price target on FIS shares, which are up $1.41, or 2%, to $71.05 in afternoon trading.
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Published first on TheFly
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Read More on FIS:
- Fidelity National Information Services call volume above normal and directionally bullish
- FIS takeover rumors mentioned in Betaville blog
- FIS downgraded to Equal Weight from Overweight at Barclays
- FIS expectations staying conservative for now, says Susquehanna
- FIS downgraded to Sector Weight from Overweight at KeyBanc