Jefferies Assumes Discover Financial (DFS) at Buy
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Price: $24.17 -0.21%
Rating Summary:
7 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
7 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Jefferies assumes coverage on Discover Financial (NYSE: DFS) with a Buy rating and $28 price target (up from $18).
The firm comments, "DFS's early stage delinquencies and roll rates continue to improve, outpacing all other credit card trusts. Although we view the current early stage delinquencies and loss severities as unsustainable over the long term, we are projecting DFS to have the longest runway prior to credit normalization out of all major credit card lenders."
For more ratings news on Discover Financial click here and for the rating history of Discover Financial click here.
Shares of Discover Financial closed at $22.26 yesterday.
The firm comments, "DFS's early stage delinquencies and roll rates continue to improve, outpacing all other credit card trusts. Although we view the current early stage delinquencies and loss severities as unsustainable over the long term, we are projecting DFS to have the longest runway prior to credit normalization out of all major credit card lenders."
For more ratings news on Discover Financial click here and for the rating history of Discover Financial click here.
Shares of Discover Financial closed at $22.26 yesterday.
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