Goldman Sachs reinstated coverage of FIS (FIS) with a Buy rating and $70 price target which offers 36% upside. Following the unwind of the Worldpay acquisition from 2019 and the acquisition of the credit issuer processing business, TSYS, FIS is now a pure play on bank software and infrastructure solutions, the analyst tells investors in a research note. The firm says the company expects annual recurring revenue growth in the mid-single-digit range.
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