BUZZ-Deutsche Bank resumes coverage of FIS with 'hold' rating

Reuters01-15
BUZZ-Deutsche Bank resumes coverage of FIS with 'hold' rating

** Deutsche Bank resumes coverage of banking and payments processing firm Fidelity National Information Services FIS.N with "hold" rating

** Brokerage says FIS acquisition of Global Payment Network's GPN.N Issuer Solutions unit, Total System Services (TSYS) and the simultaneous sale of FIS’s 45% stake in Worldpay is a transformational portfolio change

** We think the deal will end up being highly accretive for FIS, especially in light of the incremental ~$500 million in future cash flows the deal is expected to generate in the first year post-close, brokerage says

** 16 of 27 brokerages rate the stock "buy" or "higher", 10 "hold" and 1 "sell"; their median PT is $82

** Including session's move, FIS down 18.7% in the last 12 months

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com))

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