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Fidelity National reports Q2 adjusted EPS 92c, consensus 87c
Reports Q2 revenue $2.1B, consensus $2.07B.
Fidelity National downgraded to Neutral on valuation at Compass Point
Compass Point downgraded Fidelity National to Neutral from Buy with a $42 price target citing valuation.
Fidelity National initiated with a Positive at Susquehanna
Susquehanna starts Fidelity National with a Positive
As reported previously, Susquehanna analyst Jack Micenko initiated Fidelity National with a Positive rating. The analyst said his thesis is driven by both macro and company specific dynamics that are not priced in by the market. He believes consensus estimates are too conservative on mortgage volumes over the next 18 months and believes the fee-per-file growth continues to trend higher while capital return accelerates. Micenko has a $48 price target on Fidelity National shares.
Fidelity National upgraded to Buy from Neutral at Compass Point
Compass Point analyst Chris Gamaitoni upgraded Fidelity National Financial to Buy from Neutral and raised his price target to $46.25 from $43.75. In a research note to investors, the analyst says he sees more earnings leverage in the current environment because Fidelity National is less exposed to offsetting pressure of lower interest rates on investment income. Additionally, he states that while the prospects of closing the Stewart transaction appear more challenging, he believes Fidelity National could drive accretion through a ~$600M buyback program as an alternative
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