Barclays Reiterates an 'Overweight' on Discover Financial (DFS); Five Impressive Takeaways From Q2 Report
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Price: $47.64 --0%
Rating Summary:
12 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 11 | New: 13
Rating Summary:
12 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 11 | New: 13
Trade DFS Now!
Barclays reiterates an 'Overweight' on Discover Financial (NYSE: DFS) price target of $39.00.
Analyst, Mark C. DeVries, said, "Top 5 takeaways from DFS's fiscal 2Q12 earnings: 1. Top-line beat on margin improvement: DFS's revenue continues to surprise to the upside; 2. Litigation expenses elevated, but core expenses and outlook are mostly in-line; 3. Credit quality remains a tailwind: In 2Q, net charge-offs were $17mm (9 bps) better than our estimate; 4. Loan growth solid: Card loans grew 3.7% y/y, above our 3.3% estimate. Student loan growth slowed on seasonal trends; 5. Buyback guidance in-line with expectations."
Barclays raises FY12 EPS estimate from $4.23 to $4.38 and FY13 from $3.88 to $4.00.
For an analyst ratings summary and ratings history on Discover Financial click here. For more ratings news on Discover Financial click here.
Shares of Discover Financial closed at $33.57 yesterday, with a 52 week range of $20.51-$34.75.
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Analyst, Mark C. DeVries, said, "Top 5 takeaways from DFS's fiscal 2Q12 earnings: 1. Top-line beat on margin improvement: DFS's revenue continues to surprise to the upside; 2. Litigation expenses elevated, but core expenses and outlook are mostly in-line; 3. Credit quality remains a tailwind: In 2Q, net charge-offs were $17mm (9 bps) better than our estimate; 4. Loan growth solid: Card loans grew 3.7% y/y, above our 3.3% estimate. Student loan growth slowed on seasonal trends; 5. Buyback guidance in-line with expectations."
Barclays raises FY12 EPS estimate from $4.23 to $4.38 and FY13 from $3.88 to $4.00.
For an analyst ratings summary and ratings history on Discover Financial click here. For more ratings news on Discover Financial click here.
Shares of Discover Financial closed at $33.57 yesterday, with a 52 week range of $20.51-$34.75.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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