Nomura Securities Starts Synchrony Financial (SYF) at Neutral

Nomura Securities initiates coverage on Synchrony Financial (NYSE: SYF) with a Neutral rating and a price target of $23.00.

Analyst Bill Carcache comments, "We are initiating coverage of SYF with a Neutral rating and $23 target price, which implies ~10.5x our 2015E EPS and represents a 1.5x multiple point discount to peers. Our cautiousness is driven by a combination of factors that we believe will exert downward pressure on revenues while driving expenses higher and pressuring EPS growth. We favor COF and DFS over SYF."

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 $25.77 yesterday.

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