FIS Represents One Of The More Attractive Risk/Rewards Within Our Coverage, Says Oppenheimer


Oppenheimer analyst Glenn Greene assigned an Outperform rating on Fidelity National Information Services (NYSE:FIS) with a price target of $62.

Greene wrote, “Heading into 3Q14, we continue to believe that FIS represents one of the more attractive risk/rewards within our coverage. We anticipate continued solid mid-single digit organic revenue growth during 3Q, and affirmation of its 4.5-6.5% organic growth expectations for FY14. Notwithstanding recent incremental FX headwinds, we are encouraged by FIS’s recent sales, its apparent healthy pipeline, and its international growth. FIS continues to trade at a double-digit EBITDA discount to FISV and at a modest discount to JKHY. The combination of low to mid-teens EPS growth, the potential for further multiple expansion, and an ~2% dividend yield should provide attractive, and relatively defensive, shareholder returns as we look toward CY15.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Glenn Greene has a total average return of 19.2% and a 86.2% success rate. Greene has a 18.0% average return when recommending FIS, and is ranked #200 out of 3349 analysts.

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