Credit Suisse Starts Bread Financial Holdings (BFH) at Neutral

October 6, 2022 6:20 AM EDT
Get Alerts BFH Hot Sheet
Price: $38.30 --0%

Rating Summary:
    0 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 30 | New: 16
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Credit Suisse analyst Moshe Orenbuch initiates coverage on Bread Financial Holdings (NYSE: BFH) with a Neutral rating and a price target of $38.00.

The analyst commented, "In our view, Bread Financial Holdings (BFH) is well positioned to gain share in the private label market and should benefit from operating leverage, as it has divested the low-margin marketing business, LoyaltyOne, to focus on the core card lending business. We believe the company now trades at a significant discount to comparable companies in the credit card space, as it is still in the middle of its journey to become more bank-like in its capital management and reporting practices. Earnings and balance sheet quality are improving, though earnings could be more volatile than peers in a period of higher credit losses."

For an analyst ratings summary and ratings history on Bread Financial Holdings click here. For more ratings news on Bread Financial Holdings click here.

Shares of Bread Financial Holdings closed at $32.76 yesterday.

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