Goldman Sachs Upgrades Fidelity National Information Services Rating To Buy (FIS)

A study published Wednesday by Goldman Sachs regarding IT Services increases Fidelity National Information Services FIS from a rating of Neutral to Buy. Goldman Sachs also increased FIS's PT to $33 from $29. Goldman Sachs states, "FIS is a pro-cyclical company with a strong FCF profile and a track record of strategic capital allocation. Our sector-relative Investment Framework suggests that the company's return on capital, margin profile, industry positioning and valuation screen favorably relative to the Consulting and Outsourcing group." FIS shares are currently trading at $29.83, up 1% from Wednesday's market close.