CS First Boston Ups Fidelity National Information Services

The company gave 2006 earnings guidance on Wednesday

CS First Boston upgraded Fidelity National Information Services (FIS) to outperform from neutral, after the company on Wednesday forecast $1.39 to $1.44 2006 GAAP earnings per share (EPS.)

Analyst Paul Bartolai says the success of the merger between FIS and Certegy will hinge on the company's ability to cross-sell services to a combined customer base. He remains concerned with organic growth trends, however, if the company is successful with its cross-sale strategy. He believes estimates will likely prove conservative. He sees $2.11 2006 cash EPS and $2.60 in 2007. He keeps a $44 stock price target.

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