Morgan Stanley downgraded FIS (FIS) to Equal Weight from Overweight with a $79 price target. The analyst says most of the expected price upside related to better banking growth, cost actions, management communication, and Worldpay sale have been priced into the shares. The firm now sees Fiserv (FI) and Global Payments (GPN) as better beneficiaries of an easing competitive landscape. It thinks FIS ‘s current valuation adequately reflects its earnings potential going forward.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FIS: