Fidelity National Information Services (FIS) stock surged 5.11% in pre-market trading on Monday, following a series of analyst upgrades and the announcement of a strategic acquisition. The financial technology company's shares received a boost after multiple Wall Street firms raised their ratings and price targets, citing improved growth prospects and a favorable business restructuring.

TD Cowen led the charge by upgrading FIS to "Buy" from "Hold" and raising its price target to $92 from $80, representing a 23.4% upside from the stock's previous close. Citigroup also upgraded the stock to "Buy" from "Neutral" with a price target of $86, while Raymond James reiterated its "Outperform" rating and increased its price target to $90 from $78. These upgrades reflect growing confidence in FIS's strategic direction and future performance.

The stock's upward momentum was further fueled by FIS's recent agreement to acquire Global Payments' issuer solutions unit for $13.5 billion. As part of the deal, FIS will also divest its 45% stake in payments processor Worldpay to Global Payments. Analysts view this transaction as a "topgrade swap" for FIS, offering a steadier profile and potentially enhancing the durability of its financial model. The strategic move is expected to attract new investors and solidify FIS's position in the competitive fintech landscape.