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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on FIS:
- Fidelity National Information Services call volume above normal and directionally bullish
- ACI Worldwide nomination deadline highlighted by Dealreporter
- Activist involvement at FIS doesn’t come as a surprise, says Wolfe Research
- FIS commences comprehensive assessment, adds new Independent Director to Board
- FIS says Stephanie Ferris to succeed Gary Norcross as CEO