FIS price target lowered to $68 from $73 at Barclays

Barclays analyst Ramsey El-Assal lowered the firm’s price target on FIS to $68 from $73 and keeps an Equal Weight rating on the shares. The company reported in-line Q4 results and meaningfully weaker than expected guidance, the analyst tells investors in a research note. Whether or not the spinoff of the Merchant business ends up creating value remains an open question, the firm adds. The analyst continues to believe a successful turnaround is possible for FIS, but that the path is likely long.