William Blair analyst Christopher Kennedy has maintained their bullish stance on FIS stock, giving a Buy rating on October 22.
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Christopher Kennedy has given his Buy rating due to a combination of factors that highlight Fidelity National Information Services’ strong financial performance and strategic growth opportunities. The company’s recent quarterly results exceeded expectations, with adjusted EBITDA surpassing guidance and adjusted EPS coming in higher than anticipated. This positive performance is further supported by an upward revision in guidance for future earnings, indicating confidence in continued growth.
Additionally, FIS’s strategic initiatives, such as integrating AI into product development and enhancing digital capabilities, position it well for future success. The company’s competitive edge is bolstered by its acquisitions and product development, which have led to improved customer retention and a growing business pipeline. Furthermore, the upcoming asset swap with Global Payments is expected to significantly enhance FIS’s market position, offering substantial cross-sell opportunities and increasing free cash flow. These factors collectively present a compelling risk/reward opportunity, justifying the Buy rating.
According to TipRanks, Kennedy is an analyst with an average return of -7.2% and a 31.88% success rate. Kennedy covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Remitly Global, and Fidelity National Info.
In another report released on October 22, Wells Fargo also initiated coverage with a Buy rating on the stock with a $81.00 price target.