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Fly News Breaks for May 14, 2019
FIS
May 14, 2019 | 06:14 EDT
BofA/Merrill analyst Jason Kupferberg reinstated FIS (FIS) with a Buy and $139 price target following the announcement it plans to merge with Worldpay (WP). The analyst said the merger creates a "powerhouse" in technology and processing solutions across Payments and financial services. He believes initial synergy projections will prove conservative and views FIS' valuation represents favorable risk/reward.
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