11:33 AM EDT, 05/08/2024 (MT Newswires) -- Fidelity National Information Services ( FIS ) largely delivered on investor estimates for its 2025/2026 revenue growth, while its adjusted earnings guidance was likely "a bit better" than most were projecting, Morgan Stanley said in a note Wednesday.

The company said at its investor day on Tuesday that it expects adjusted revenue growth of 4.5% to 5.5% for 2025/2026, "a slight acceleration" from the projected growth range of 3.5% to 4.5% for 2024, Morgan Stanley said.

The company expects adjusted per-share earnings growth of 9% to 12% for the period, likely better than the high-single-digits most investors had forecast, the brokerage said.

"We like FIS as we think the stock could continue to rerate higher as investors build confidence in management execution to improve growth and find synergistic M&A opportunities, while the Worldpay stake can potentially be a consistent source of earnings upside as that business reaccelerates growth," Morgan Stanley said.

The firm raised its price target on the Fidelity National stock to $79 from $77, with an overweight rating.

The company's shares were down 2% in recent trading.

Price: 72.79, Change: -1.52, Percent Change: -2.05