FIS price target lowered to $78 from $86 at UBS

UBS analyst Rayna Kumar lowered the firm’s price target on FIS to $78 from $86 and keeps a Buy rating on the shares. Along with its earnings report, FIS announced it would execute a tax-free spin-out of its Merchant Solutions business, but the firm thinks investors likely preferred a sale rather than a spin, the analyst says in a research note.