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FIS

FIS

$110.17

3.5 (3.28%)

, WP

Worldpay

$110.30

3.23 (3.02%)

07:28
03/22/19
03/22
07:28
03/22/19
07:28

FIS added to Best Ideas List at Wedbush based on Worldpay-related revenue

Wedbush analyst Moshe Katri added Outperform-rated FIS (FIS) to the Best Ideas List following its offer to buy Worldpay (WP) and raised his price target to $140 from $110. In a research note to investors, Katri says he believes the transaction, which strategically responds to Fiserv's (FISV) pending acquisition of First Data (FDC), expands FIS' capabilities by enhancing its acquiring and payments offerings while increasing Worldpay's distribution footprint, and accelerating its entry into new geographies.

FIS

FIS

$110.17

3.5 (3.28%)

WP

Worldpay

$110.30

3.23 (3.02%)

FISV

Fiserv

$86.07

2.35 (2.81%)

FDC

First Data

$25.52

0.71 (2.86%)

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FIS FIS
$110.17

3.5 (3.28%)

03/19/19
KEYB
03/19/19
DOWNGRADE
KEYB
Sector Weight
Worldpay downgraded to Sector Weight after Fiserv deal at KeyBanc
As previously reported, KeyBanc analyst Josh Beck downgraded Worldpay (WP) to Sector Weight from Overweight after the company and FIS (FIS) announced a deal, quickly adding another mega-deal in the wake of Fiserv (FISV)-First Data (FDC) and Global Payments (GPN)-Heartland Payment Systems. The analyst thinks this transaction is likely to expand the M&A discussion around Global Payments, TSYS (TSS), EVO Payments (EVOP), and i3 Verticals (IIIV) and sees paths to accretion should management teams further endorse a scale strategy. Future processing competition could increase among Global Payments, TSYS, First Data, and JPMorgan (JPM), but it remains too early to gauge, he contends.
03/20/19
MSCO
03/20/19
DOWNGRADE
MSCO
Equal Weight
Worldpay downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst James Faucette downgraded Worldpay (WP) to Equal Weight from Overweight, stating that he does not foresee regulatory challenges to the acquisition of the company by FIS (FIS). Faucette also said that the FIS/Worldpay and Fiserv (FISV)/First Data (FDC) deals make him incrementally more positive on Global Payments (GPN), which he could see as either a potential acquirer or takeover candidate.
03/20/19
BARD
03/20/19
NO CHANGE
Target $132
BARD
Outperform
FIS named Fresh Pick at Baird, sees $150 by late 2020
Baird analyst David Konig designated FIS (FIS) as a Fresh Pick following the recent announcement of the merger with Worldpay (WP). In a research note to investors, Konig says he thinks the Street theme is going to be $150 by late 2020, and says the deal should be EPS accretive by 2021 and multiple accretive "like yesterday." Koning has an Outperform rating on FIS with a $132 price target.
03/21/19
WEDB
03/21/19
DOWNGRADE
Target $110
WEDB
Neutral
Worldpay downgraded to Neutral from Outperform at Wedbush
Wedbush analyst Moshe Katri downgraded Worldpay (WP) to Neutral from Outperform, with a $110 price target, and removing the stock from his firm's Best Ideas List due to FIS' (FIS) intent to acquire the company. The transaction essentially expands FIS' capabilities by enhancing its acquiring and payments offerings while increasing Worldpay's distribution footprint, and accelerating its entry into new geographies, he contends.
WP Worldpay
$110.30

3.23 (3.02%)

03/21/19
ATLE
03/21/19
DOWNGRADE
ATLE
Neutral
Worldpay downgraded to Neutral from Overweight at Atlantic Equities
FISV Fiserv
$86.07

2.35 (2.81%)

02/13/19
02/13/19
DOWNGRADE
Target $25.5

Market Perform
First Data downgraded to Market Perform at Wells Fargo amid pending acquisition
As previously reported, Wells Fargo analyst Timothy Willi downgraded First Data (FDC) to Market Perform from Outperform to reflect the pending acquisition by Fiserv (FISV), which is expected to close during H2 2019. The analyst also lowered his price target on First Data's shares to $25.50 from $30 to reflect the exchange ratio and Fiserv's current share price of approximately $84.50.
03/19/19
03/19/19
DOWNGRADE
Target $113

Hold
FIS downgraded to Hold at SunTrust on Worldpay deal
As previously reported, Suntrust analyst Andrew Jeffrey downgraded FIS (FIS) to Hold from Buy and lowered his price target to $113 from $120. The analyst notes that while he does see "strategic rationale for acquiring Worldpay (WP)", he also believes that the purchase price as "at best" fair, adding that the merged entity will have to produce "meaningful revenue synergies" to meet the company's long-term organic growth targets. With Worldpay trading at a 10% premium to Fiserv (FISV) based on his forward EBITDA multiple valuation, Jeffrey states that the FIS deal is "at best a balanced risk/reward".
FDC First Data
$25.52

0.71 (2.86%)

02/12/19
WELS
02/12/19
DOWNGRADE
WELS
Market Perform
First Data downgraded to Market Perform from Outperform at Wells Fargo

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TECD

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T

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HSBC

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CSCO

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CBPO

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