Deutsche Bank Starts Discover Financial (DFS) at Buy

October 14, 2013 7:21 AM EDT
Get Alerts DFS Hot Sheet
Price: $69.28 -1.31%

Rating Summary:
    23 Buy, 9 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Deutsche Bank initiated coverage on Discover Financial (NYSE: DFS) with a Buy rating and a price target of $62.00.

Analyst David Ho said, "Discover is a compelling growth story within financials over the next consumer leveraging cycle, in our view. We expect above average loan growth in both a sluggish macro environment and as consumer loan demand accelerates. This will translate into positive EPS revisions over time from likely better than expected NIM trends, benign credit costs, meaningful excess capital and high-margin payment assets. The valuation is attractive given higher returns and asset growth."

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 $51.78 yesterday.

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