Oppenheimer Remains Bullish Towards Discover Financial Services (DFS) on Near-Term Attractiveness

Oppenheimer reiterates an Outperform rating and $76.00 price target on Discover Financial (NYSE: DFS) on near-term attractiveness. Analyst Ben Chittenden says that with the stock trading as cheap as it is, he thinks much of the concerns are already priced in.

Chittenden commented, "We continue to like DFS from a long-term perspective and view the near-term setup as particularly attractive. We spent a lot of time on the road the past few weeks and sentiment is generally indifferent to bearish. However, with the stock trading as cheap as it is we think much of the concerns are already priced in. In addition, DFS is trading at a ~0.5x discount to COF vs. the 4-year average of a ~0.5x premium. Secondquarter earnings could also serve as a catalyst to close that valuation gap. Thus, we think the near-term setup is attractive right now regardless of whether one agrees with our longer-term thesis."

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 $58.45 yesterday.

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