FIS price target lowered to $57 from $69 at Truist

Truist analyst Matthew Coad lowered the firm’s price target on FIS (FIS) to $57 from $69 and keeps a Hold rating on the shares as part of a broader research note adjusting the firm’s models on Payments names following Q4 results. Truist is citing the company’s lower than expected contribution from the TSYS acquisition, also noting its lower free cash flow forecasts and lower peer multiples, the analyst tells investors in a research note.