FIS price target lowered to $67 from $81 at Wells Fargo

Wells Fargo analyst Jason Kupferberg lowered the firm’s price target on FIS (FIS) to $67 from $81 and keeps an Overweight rating on the shares. The firm says the banking segment performance was the clear highlight, and management’s tone on competition was constructive. AI commentary was also encouraging, with FIS’s products hard to displace because of embedded regulatory/compliance. Focus turns to execution and integration, Wells adds.