KeyBanc analyst Josh Beck downgraded FIS to Sector Weight from Overweight with a fair value estimate of $75. The accelerated pace of industry change creates market-related fundamental uncertainty as embedded payments are gaining notable share in the "FIS-heavy" restaurant and retail verticals, Beck tells investors in a research note. The analyst says a return to high-single-digit for FIS is likely to take time.
Published first on TheFly
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