FIS assumed with a Perform at Oppenheimer

Oppenheimer assumed coverage of FIS with a Perform rating and no price target. While the firm says it “appreciates” FIS’s strategic shift back to its core operations after it divested 55% of its stake in Worldpay Merchant Solutions to GTCR, reducing the unpredictability in its business model, and is confident in the company’s ability to achieve its medium-term guidance, with the stock up 38% year-to-date, the firm believes such performance is “already baked into the stock.”