Synchrony Financial to File Registration Statement in Connection With GE Exchange Offer
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October 20, 2015 10:59 AM EDT
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
October 20, 2015 7:26 AM EDT
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
October 19, 2015 9:03 AM EDT
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
October 19, 2015 7:27 AM EDT
Bernstein analyst Kevin St. Pierre reiterated an Outperform rating and lifted estimates and his price target on Synchrony Financial (NYSE: SYF) to $41.00 (from $38.00) following solid results.
St. Pierre noted the stronger net interest income (driven by a higher margin) and a lower... More
October 19, 2015 6:31 AM EDT
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
