Jefferies Reiterates Buy on Discover Financial Services (DFS) Following 3Q Report

October 26, 2016 9:19 AM EDT
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Price: $70.20 +0.29%

Rating Summary:
    23 Buy, 9 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies reiterated a Buy rating and $70.00 price target on Discover Financial Services (NYSE: DFS) following the company's 3Q earnings report. DFS reported EPS of $1.56, coming in ahead of the consensus estimate of $1.48. Jefferies classifies the quarter as a modest positive, but doesn't anticipate a meaningful impact on the stock.

Analyst John Hecht commented, "DFS reported 2Q16 EPS of $1.56 versus our and the consensus estimate of $1.48, with much of the EPS upside related to a tax benefit. That said, credit remains consistent, while loan growth accelerated and NIM widened. Offsetting this, it appears that competition remains intense as rewards guidance creeps higher. We believe this quarter marked another consistent quarter from DFS and we look to the call for incremental color on growth initiatives and competition."

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 $56.14 yesterday.

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