FIS price target lowered to $80 from $88 at Wells Fargo

Wells Fargo lowered the firm’s price target on FIS (FIS) to $80 from $88 and keeps an Equal Weight rating on the shares. While Capital Markets sustained its momentum, Banking lagged on multiple one-time headwinds, the firm says. Wells believes investors will come away justifiably skeptical around FIS’s ability to deliver the second half of the year acceleration implied by guidance.