Market Overview

UPDATE: JP Morgan Raises PT to $36.50 on Discover Financial Following May Master Trust Data

Related DFS
AmEx Q2 Earnings Beat on Higher Card Spending & Spin-off Gains
Sallie Mae (SLM) Beats Q2 Earnings Estimates on Higher NII
College Students: Don't Count on Bank of Mom and Dad (Fox Business)

JP Morgan reiterates its Overweight rating on Discover Financial (NYSE: DFS) and raises its price target from $36 to $36.50.

JP Morgan comments, "Following the release of May master trust data, we are previewing results and adjusting our estimates for Discover prior to the company's FY2Q12 earnings. We are raising estimates to reflect better credit results relative to our previous estimates. The company is scheduled to release earnings before the market opens on Tuesday, June 19. We are maintaining our Overweight rating and increasing our 2012 year-end price target to $36.50 (prev. $36) to reflect our revised estimates."

DFS closed at $32.99 on Friday.

Posted-In: JP MorganAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

Related Articles (DFS)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters