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Fly News Breaks for June 12, 2019
Jun 12, 2019 | 07:46 EDT
SunTrust analyst Andrew Jeffrey raised his price target on FIS (FIS) to $125, saying the company should exceed its $400M 3-year synergy target as part of its expected merger with Worldpay (WP), provided the deal closes by the end of Q3. The analyst says the acquisition makes "perfect sense", but is keeping his Hold rating however with a "less bullish" outlook on FIS's projected organic revenue growth acceleration, with the onus for top-line growth likely falling on Worldpay's Tech assets and "prospective synergies."
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