Market Overview

UPDATE: Goldman Sachs Raises PT to $46 on Discover Financial Services on Confident Outlook

Related DFS
Keep an Eye on These 10 Stocks for October 20, 2015
Earnings Scheduled For October 20, 2015

Goldman Sachs reiterated its Conviction List Buy rating on Discover Financial Services (NYSE: DFS) and raised its price target from $41 to $46.

Goldman Sachs commented, "We reiterate our Conviction List Buy on DFS and raise our price target to $46 (+$5; $41 prior) on increased confidence in (1) DFS' ability to keep longer-term losses lower, (2) maintain its NIM through 2013, (3) monetize excess capital, and (4) expand its network. While higher earnings expectations have largely driven its recent stock performance (+61% ytd vs. SPX +16%), we see a path to higher earnings ($4.50+ in a normalized environment), leaving room for the stock to rise to our new price target."

Discover Financial Services closed at $38.62 on Friday.

Latest Ratings for DFS

Oct 2015OppenheimerMaintainsOutperform
Oct 2015Stifel NicolausMaintainsBuy
Oct 2015OppenheimerMaintainsOutperform

View More Analyst Ratings for DFS
View the Latest Analyst Ratings

Posted-In: Conviction Buy List Goldman SachsAnalyst Color Price Target Intraday Update Analyst Ratings


Related Articles (DFS)

Get Benzinga's Newsletters