GE Commences Exchange Offer to Complete Separation of Synchrony Financial

UBS Cuts Price Target on Synchrony Financial (SYF) Following 3Q Earnings Report

UBS maintained a Neutral rating on Synchrony Financial (NYSE: SYF), and cut the price target to $33.50 (from $35.00), following the company's 3Q earnings results. During the quarter the company saw 12% y/y growth in its receivables portfolio.

Analyst Matthew Howlett commented, "We are... More

Nomura Securities Upgrades Synchrony Financial (SYF) to Buy

Nomura Securities upgraded Synchrony Financial (NYSE: SYF) from Neutral to Buy with a price target of $38.00 (from $35.00).

Analyst Bill Carcache commented, "We are upgrading SYF to Buy from Neutral (TP to $38 from $35) based on our view that recent technical pressure relating to... More

UBS Reiterates Buy Following General Electric's (GE) 3Q Results

UBS reiterated a Buy rating and $32.00 price target on General Electric (NYSE: GE) following the company's 3Q15 earnings results. Oil & Gas revenues were down 7% organically but operating margins were up 70 bps (100 bps organically). GE is taking $1B+ of cost out of its Oil & Gas business 2015-16.... More

General Electric (GE) Commences Exchange Offer Related to Synchrony (SYF) Spin

General Electric (NYSE: GE) commenced an offer to exchange GE common stock for common stock of Synchrony Financial (NYSE: SYF) presently owned by GE. This exchange offer is in connection with the previously announced separation of Synchrony, the largest provider of private label credit cards in the United States*, from GE. The exchange offer is expected to conclude the week of November 16, 2015.

Last week, Synchrony Financial received approval from the Federal Reserve to become a stand-alone savings and loan holding company following the completion of the... More