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HomeBusinessFidelity National Information Services’ Price Target Lowered to $114 at RBC Capital

Fidelity National Information Services’ Price Target Lowered to $114 at RBC Capital


RBC Capital analysts lowered their price target to $114 from $141 on Fidelity National Information Services, Inc. (NYSE:FIS) ahead of their upcoming meeting tomorrow with the company’s new CFO Erik Hoag.
Incorporating a more challenging backdrop in the UK (15% of revenues), strengthening Dollar, higher interest costs & D&A, and a new lower share price embedded in their buyback model, the analysts lowered their 2022/2023 estimates.
Based on the above assumptions, the analysts’ 2022/2023 revenue, adjusted EBITDA and adjusted EPS moved to $14.57 billion/$6.46 billion/$6.96 and $15.34 billion/$6.87 billion/$7.60 from $14.69 billion/$6.53 billion/$7.04 and $15.61 billion/$6.98 billion/$7.85, respectively. Their 2022 and 2023 adjusted EPS are now approximately 1.5% and 3.4% lower than the Street estimates.

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