Truist Analyst Raises Fidelity National Information Services (FIS) PT to $85

Fidelity National Information Services Inc. (NYSE:FIS) is one of the cheap technology stocks to buy now. On July 22, a Truist analyst, Matthew Coad, raised the firm’s price target for Fidelity National Information Services to $85 from $84, while maintaining a Hold rating. The analyst has a positive outlook for the FinTech sector and anticipates solid overall earnings despite recent underperformance.

Following this sentiment, Fidelity National Information Services released its Q2 2025 earnings, with the revenue growing 5% to $2.6 billion. Adjusted EBITDA also grew by 5% and surpassed the top end of the company’s outlook range, with a margin that improved sequentially by ~2%. Adjusted EPS was $1.36.

The company also acquired a global payments issuer business and the sale of a minority stake in Worldpay, which are expected to strengthen its financial profile and improve free cash flow. FIS is also focusing on AI innovation with the planned launch of “Banker Assist,” an AI platform for commercial banking, and has multiple AI pilots underway.

Fidelity National Information Services Inc. (NYSE:FIS) provides financial services technology solutions for financial institutions, businesses, and developers worldwide.

While we acknowledge the potential of FIS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.