Goldman Sachs Starts Synchrony Financial (SYF) at Buy

Goldman Sachs initiated coverage on Synchrony Financial (NYSE: SYF) with a Buy rating and a price target of $30.00.

Analyst Ryan M. Nash said, "We view SYF as uniquely positioned to capitalize on its market leadership in private label through deeply integrated partner relationships and the leveraging of data and analytics. This, along with an improving consumer, should drive mid-to-high single digit loan growth across its three platforms. Credit losses should remain “lower for longer” (<5%) given improved mix and cleaner underwriting, while longerterm, we see the potential for SYF to be one of the best capital return stories in financials with 17%+ B3 T1C by YE 2015, driving upside to earnings."

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

Shares of Synchrony Financial closed at $24.84 yesterday.

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