Wedbush Starts Synchrony Financial (SYF) at Outperform
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Wedbush initiates coverage on Synchrony Financial (NYSE: SYF) with a Outperform rating and a price target of $31.00.
Analyst Henry Coffey Jr. commented, "We are initiating coverage on Synchrony Financial (SYF) with an OUTPERFORM rating and a $31 price target. SYF is the largest issuer and manager of private label credit cards and promotionally-based sales finance programs in the country. Our price target and rating reflect this company’s longstanding relationships with its PLS clients, the expectation the company will continue to increase return of capital measures over time, and the company’s valuation relative to its peers."
Shares of Synchrony Financial closed at $26.73 yesterday.
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