FIS price target lowered to $88 from $95 at Raymond James

Raymond James analyst John Davis lowered the firm’s price target on FIS (FIS) to $88 from $95 and keeps an Outperform rating on the shares. FIS reported “mixed” Q2 results, featuring a modest 1% top-line beat with adjusted EPS in-line with the Street, though adjusted EBITDA margin disappointed, the analyst tells investors in a research note. Raymond James anticipates margins will be the biggest focus over the next few quarters, and delivering on the updated outlook is critical for the stock.