Synchrony Financial (SYF) PT Raised to $85 at BofA Securities

BofA Securities analyst Mihir Bhatia raised the price target on Synchrony Financial (NYSE: SYF) to $85.00 (from $82.00) while maintaining a Buy rating.

The analyst comments "Shares of SYF are trading down following SYF’s 4Q print likely driven by disappointment in the net revenue outlook. While SYF’s outlook for $15.2B-$15.7B brackets BofA/cons at $15.6B/$15.5B, our conversations suggest some investors were looking for upside to sell-side estimates. Still, taking all the pieces of the outlook together, we estimate 2025 forecasts will increase driven by better credit and expenses, which should offset the slightly lower top-line. SYF also continues to have idiosyncratic upside on net revenues exiting 2025 as more of the portfolio reprices to higher rates. Credit is also turning a corner (DQs down y/y). We reiterate our Buy rating. "

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