Jefferies Lifts Estimates/Price Target on Discover Financial (DFS) On Continued Credit Improvement

Jefferies boosted numbers on Discover Financial (NYSE: DFS) citing continued credit improvement. The firm reiterated their Buy rating.

The firm raised its price target from $28 to $34. They raised Q1 EPS from $0.91 to $0.99, FY12 from $3.41 to $3.61 and FY13 from $3.45 to $3.52.

"Our increased EPS estimates are due to recent master trust data which show DFS is likely to print a better than credit loss number in Q1 than we were expecting," the firm comments.

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 $29.69 yesterday.

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