Fidelity National Information Services (FIS) has drawn significant analyst attention with major financial institutions such as Keefe, Bruyette & Woods, Barclays, Susquehanna Bancshares Inc, and Evercore ISI, all raising their price targets for the fintech firm. Despite a couple of underperformances compared to competitors, the firm's value has been favorably reviewed. A strong quarterly performance led to several analysts commending FIS, with raised profit outlooks and a noteworthy profit spike. Resultantly, its share price has been making new year highs following the earnings beat. EPS estimates have also been adjusted upwards by analysts following robust Q1 earnings. However, highlighting a key concern, FIS has abandoned its plan to spin-off Worldpay. The underperformance of the FIS stock even after an impressive earnings report raises concerns about the company's fundamentals. Stakeholders, like Cullen Frost Bankers Inc. and Truist Financial Corp, have offloaded their holdings leading to speculations around the intrinsic value of the company. Notwithstanding these concerns, the long-term outlook for FIS remains positive as optimistic Q1 2024 earnings guidance, strong full-year 2023 results, introduced 2024 outlook, and upsized share repurchase target provide support to the stock.
Fidelity National Information Services FIS News Analytics from Wed, 08 Nov 2023 08:00:00 GMT to Fri, 10 May 2024 09:03:11 GMT -
Rating 6
- Innovation 4
- Information 8
- Rumor -3
