FIS price target raised to $98 from $90 at Stephens

Stephens raised the firm’s price target on FIS (FIS) to $98 from $90 and keeps an Overweight rating on the shares. Given decelerating, yet relatively stable, payment volumes and a challenging competitive backdrop, positioning in the payment space remains defensive, with a bias towards names with growing value-add service contributions and share-gainers, the analyst tells investors in a preview for the group. In the absence of macro acceleration, the firm expects variability in returns across the space to stay elevated, with valuations remaining below historical levels, the analyst added.