Jefferies Sees More Upside in Discover Financial (DFS)
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Price: $47.89 +1.03%
Rating Summary:
13 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
13 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade DFS Now!
Jefferies lifted estimates and its price target on Buy-rated Discover Financial (NYSE: DFS) from $37 to $40.
The firm comments, "We continue to see upside in DFS shares as card yield compression is happening at a slower pace than anticipated by the Street, while the benefit to funding costs accelerates, driving a 9.3%+ NIM. Charge-offs and delinquencies continue to improve, with no turn in credit imminent. We continue think the story will work in a macro sensitive risk environment, with 3.5%+ loan growth coming from the US."
Q2 EPS goes from $0.99 to $0.95, FY12 from $4.05 to $4.06 and FY13 from $4.16 to $4.21.
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 $33.57 yesterday, with a 52 week range of $20.51-$34.75.
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The firm comments, "We continue to see upside in DFS shares as card yield compression is happening at a slower pace than anticipated by the Street, while the benefit to funding costs accelerates, driving a 9.3%+ NIM. Charge-offs and delinquencies continue to improve, with no turn in credit imminent. We continue think the story will work in a macro sensitive risk environment, with 3.5%+ loan growth coming from the US."
Q2 EPS goes from $0.99 to $0.95, FY12 from $4.05 to $4.06 and FY13 from $4.16 to $4.21.
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 $33.57 yesterday, with a 52 week range of $20.51-$34.75.
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