Fidelity National Information Services "outperform," target price raised

04/30/07 - Credit Suisse

NEW YORK, April 30 (newratings.com) - Analysts at Credit Suisse reiterate their "outperform" rating on Fidelity National Information Services (FIS). The target price has been raised from $55 to $60.

In a research note published on April 27, the analysts mention that the company has reported robust 1Q07 results, with EPS ahead of the estimates and the consensus. Fidelity National Information Services’ Transaction segment reported 14.9% revenue growth in the quarter, driven by robust growth across all three business lines, the analysts say. The company is expected to report 20% EPS growth over the forthcoming two years. The upward revision in the target price reflects increased optimism regarding the company’s growth prospects, Credit Suisse adds.