J.P. Morgan Remains Neutral On Fidelity (FIS)

J.P. Morgan remained Neutral on Fidelity National Information Services FIS in a research report published today. In the report, J.P. Morgan states, "Yesterday morning, FIS surprised us with 4Q organic revenue growth accelerating to 6.1% (JPMe 3%), the highest growth rate since 3Q08, putting FY10 at 3.2% growth. As a result, we now feel more confident in FIS' ability meet its FY11 growth target of 4-6% (we were at very low-end; raising to 4.4%). Top-line strength appears to be coming from new deal ramps and services (lower margin), and if sustainable without sacrificing margin, could help the valuation case mid-term." Shares of Fidelity National Information Services were at $31.87 at the time of posting in after hours trading, reflecting no change from Tuesday's market close.