Credit Suisse Upgrades Total System Services to Outperform (TSS)

Credit Suisses is upgrading Totaly System Services TSS from Neutral to Outperform. In a note to clients, Credit Suisse writes, "After facing several challenging years, we believe that the outlook for Total System Services has turned the corner, with the company's future prospects looking promising. We believe that organic growth will accelerate in 2011 and 2012 as the recent headwinds subside and the positive trends of electronic payments increase. Although our upgrade is based on a turn in fundamentals and not on the upcoming 4Q10 report on Jan 25, we are very comfortable with our 4Q10 revenue estimates of $438M and EPS estimate of $0.25 and expect solid 2011 guidance." Credit Suisse increases its price target on TSS from $16 to $22. TSS is trading pre-market at $16.80, up 2.38% from Friday's close.