Fidelity Information Services: Business Simplification Supports Further Upside

JHVEPhoto Shares of Fidelity National Information Services (NYSE:FIS) have been a strong performer over the past year, rising about 36%. In November, I upgraded FIS from “sell” to “buy” as much of the bad news appeared priced in while simplification of the business created potential upside. Since that recommendation, shares have returned nearly 40%, significantly outperforming the market’s 17% gain. In the process, shares have rallied past my initial low-$60’s price target, making now a natural time to  ...