There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Line Corp (LN) and Fidelity National Info (FIS) with bullish sentiments.
Line Corp (LN)
In a report released today, Owen Bennett from Jefferies maintained a Buy rating on Line Corp, with a price target of $3500. The company’s shares closed yesterday at $34.45.
Bennett commented:
“We do not expect much detail in Imperial’s trading update tomorrow ahead of 1H19. The main takeaway is likely to be that the company is on track to meet 1H19 earnings expectations. Recall, Imperial has previously said it expects 1H19 adjusted EBIT to be down slightly from the prior year on front-end-loaded NGP spend. We also expect the company to reiterate full-year guidance (c.4% ex-FX EPS growth). We hope for encouraging commentary on Blu momentum.”
According to TipRanks.com, Bennett is a 1-star analyst with an average return of -0.8% and a 47.5% success rate. Bennett covers the Healthcare sector, focusing on stocks such as The Green Organic Dutchman Holdings Ltd, Aurora Cannabis Inc, and Tilray Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Line Corp with a $3500 average price target.
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Fidelity National Info (FIS)
Oppenheimer analyst Glenn Greene maintained a Buy rating on Fidelity National Info today and set a price target of $118. The company’s shares closed yesterday at $108.42.
Greene noted:
“On 3/18/19, FIS announced an agreement to acquire Worldpay (WP) for $35.5B. After spending time analyzing the deal, and preparing a pro forma analysis, we offer our updated thoughts. With the benefit of $700M of EBITDA synergies over three years, FIS management anticipates the deal will prove modestly accretive to 2021 earnings (our pro forma analysis is consistent). The deal appears strategically compelling as WP provides FIS with a market-leading global merchant acquirer (with global ecommerce strength), enhanced global scale, and should offer significant synergies. Assuming execution toward synergy goals, growth acceleration, and profitability improvement, we anticipate a multiple re-rating for FIS, over time, perhaps toward 20x or higher. Maintain estimates, Outperform rating and $118 PT.”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 18.5% and a 83.0% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Total System Services, and Global Payments Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Fidelity National Info with a $128.40 average price target, a 18.4% upside from current levels. In a report issued on March 18, Cantor Fitzgerald also maintained a Buy rating on the stock with a $122 price target.
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