Credit Suisse Reiterates Neutral Rating, $36 PT on Fidelity National Information Services

In a report published Wednesday, Credit Suisse Group reiterated its Neutral rating and $36.00 price target on Fidelity National Information Services

. Credit Suisse noted, “FIS reported solid 2Q results, with in-line revenue and better than expected EPS, adjusted for the discontinued Healthcare business. EPS of $0.66 was ahead of our $0.62 estimate and included a $0.02 hit from the exclusion of the Healthcare business (which was still in our model). An artificially low tax rate added approximately $0.03 to EPS. Organic revenue growth was 5%, in line with our estimate. EPS upside relative to our estimate was driven by higher margins, largely in Int'l and lower corporate spend.” Fidelity National Information Services closed on Tuesday at $34.23.