FIS Downgraded as UBS Sweeps Price Targets Higher

William Blair cut FIS to Hold from Buy on Thursday, the most decisive rating change in a session dominated by UBS revising price targets across multiple sectors.

Analyst Cristopher Kennedy at William Blair gave no new target alongside the downgrade. FIS, the payments technology group with a $20.1 billion market cap, now carries just one Buy among 30 analyst ratings. Fifteen analysts rate it Hold and fourteen rate it Sell, one of the more sceptical consensus profiles in the financial technology space.

EMCOR Group took the sharpest target cut of the day. UBS analyst Avinatan Jaroslawicz trimmed the electrical and mechanical services contractor to $925 from $1,065 while keeping a Buy rating. That is a $140 reduction, though EMCOR's $31 billion market cap suggests the firm remains a conviction long for UBS.

UBS dominated the session's target changes, moving prices higher on names including DuPont de Nemours to $182 from $172, EchoStar to $160 from $150, and Diamondback Energy to $260 from $256. Pfizer received a modest target lift to $30 from $27, still a Hold-rated stock sitting in a crowded Neutral camp. Amgen also got an upward target revision to $440 from $384 at Canaccord Genuity.