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FIS initiated with a Hold at Truist

Truist initiated coverage of FIS (FIS) with a Hold rating and $84 price target Management’s strategy and business transformation is positive, but Truist is concerned that some good news may already be priced in and struggles to see meaningful upside potential here, the analyst tells investors in a research note. The firm expects shares to remain range bound for the time being and sees better value in other large caps in its coverage universe.

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