Jefferies Sees More Upside in Discover Financial (DFS)
Tweet
Share
E-mailGet Alerts DFS Hot Sheet
Price: $200.05 --0%
Rating Summary:
21 Buy, 16 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 15
Rating Summary:
21 Buy, 16 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 22 | New: 15
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan (JPM) PT Raised to $350 at Jefferies
- Morgan Stanley Upgrades Yangtze Optical Fibre And Cable (6869:HK) (YZOFF) to Overweight
- Berenberg Starts Burkhalter Holding AG (BRKN:SW) at Hold
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst PT ChangeRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
