UPDATE: Wedbush Starts Discover Financial (DFS) at Neutral
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(Updated - October 11, 2016 7:38 AM EDT)
Wedbush initiated coverage on Discover Financial (NYSE: DFS) with a Neutral rating and a price target of $63.00.
Analyst Henry Coffey Jr. commented, "We are initiating coverage on Discover Financial Services (DFS) with a NEUTRAL rating and a $63 price target. DFS is a top-five card issuer and one of only two card companies with a self-branded card. The company is the third-largest student lender in the US and over the last 7.5 years, it has grown its personal or installment loan portfolio to $5.7 billion. Our rating and price target reflect the company’s long historical focus on its primary niche, the challenges tied to managing the current shift in consumer credit metrics from “great to good,” and this company’s valuation relative to its peers."
Shares of Discover Financial closed at $56.40 yesterday.
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