FIS price target lowered to $95 from $104 at RBC Capital

RBC Capital lowered the firm’s price target on FIS (FIS) to $95 from $104 but keeps an Outperform rating on the shares after its Q4 results and below-consensus guidance. Despite solid sales momentum continuing from FY24 into FY25, the company’s Banking guidance was disappointing, as several items will cause the year to start slow and ramp into Q2 and the second half, dampening the increased visibility expected heading into FY25, the analyst tells investors in a research note. FIS’s Capital Markets business remains the bright spot however and should continue to drive the bus in FY25, the firm added.