UPDATE: Sterne Agee Raises PT to $45 on Discover Financial Services on Positive Momentum
Sterne Agee reiterated its Buy rating on Discover Financial Services (NYSE: DFS) and raised its price target from $40 to $45.
Sterne Agee noted, "The forward momentum in this company's Direct Bank and network points to a company capable of continuing to invest and grow the card business, expand the network, develop/launch new products, buy back stock, and build reserves as needed. Reflecting this we are increasing our estimates and raising our price target from $40 to $45."
Discover Financial Services closed at $39.71 on Thursday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.