FIS upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst James Faucette upgraded FIS to Overweight from Equal Weight with a price target of $79, up from $73. The analyst sees limited downside in the shares given the company’s increased focus on mergers and acquisitions. The firm views FIS estimates as de-risked and finds the valuation compelling at current share levels. It believes M&A can create create for the company.