On August 5, Raymond James trimmed the price target on Fidelity National to $88 from $95, while assigning an Outperform rating on the stock following the Q2 2025 earnings. Fidelity National (FIS) Weakens After Raymond James Slashes Price TargetPhoto by Robb Miller on UnsplashRaymond James cited weaker-than-anticipated margin guidance for Q3, as FIS projected 60 basis points of growth compared to the expected 150 basis points, and shifted its full-year margin forecast downward. The lowered price target led to an 8% drop in FIS shares, with Raymond James observing that it reflects growing investor concerns over competitive and pricing dynamics. Although challenges persist, Raymond James upheld its Outperform rating, noting that FIS’s full-year guidance for FX-adjusted organic revenue and adjusted EPS is mostly intact, given the minor interest and tax tailwinds. While we acknowledge the potential of FIS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk.