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Sterne Agee Reiterates Buy Rating, $45 PT on Discover Financial Services

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In a report published Monday, Sterne Agee Group reiterated its Buy rating and $45.00 price target on Discover Financial Services (NYSE: DFS).

Sterne Agee noted, “We are lowering our 2013 and 2014 EPS estimates to reflect higher marketing and other operating cost. We have been assuming regular reserve building (vs. releases) in 2013 and 2014 already. We are reducing the FY13 EPS from $4.50 to $4.40 and lowering the FY14 EPS estimate from $4.75 to $4.60. We are initiating quarterly 2014 EPS estimates. The pending change to a December fiscal year (not reflected below) is not expected to have much of an impact on EPS estimates.”

Discover Financial Services closed on Friday at $38.50.

Latest Ratings for DFS

DateFirmActionFromTo
Oct 2014Buckingham ResearchMaintainsBuy
Oct 2014OppenheimerMaintainsOutperform
Jul 2014UBSMaintainsNeutral

View More Analyst Ratings for DFS
View the Latest Analyst Ratings

Posted-In: Sterne Agee GroupAnalyst Color Reiteration Analyst Ratings

 

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