UPDATE: Sterne Agee Downgrades Fidelity National Information Services to Neutral on Limited Upside

In a report published Friday, Sterne Agee analyst Greg Smith downgraded the rating on Fidelity National Information Services

from Buy to Neutral. In the report, Smith noted, “We are downgrading FIS to Neutral from Buy as the shares now have limited upside relative to our prior $42 price target. At this point, our positive thesis on FIS has played out and we expect the shares to perform in line with the S&P 500 over the coming months. We no longer see a disconnect between fundamentals and the share price and view the shares as fairly valued at current levels.” Fidelity National Information Services closed on Thursday at $41.00.