Pacific Crest Starts Fidelity National Information Services (FIS) at Overweight

Pacific Crest initiated coverage on Fidelity National Information Services (NYSE: FIS) with an Overweight rating and a price target of $86. Analyst Arvind Ramnani said FIS is a dominant provider in a stable market.

"We believe FIS' dominant position in the core bank processing market provides a highly stable, recurring and sticky revenue stream. Its SunGard acquisition provides greater scale, complementary capabilities and cost-saving synergies. Its global presence and digital offerings could deliver upside to revenue growth," said Ramnani.

For an analyst ratings summary and ratings history on Fidelity National Information Services click here. For more ratings news on Fidelity National Information Services click here.

Shares of Fidelity National Information Services closed at $75.87 yesterday.

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