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UPDATE: Sterne Agee Raises PT on Discover Financial Services Following Analyst Day

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In a report published Wednesday, Sterne Agee analyst Greg Smith reiterated his Buy rating on Discover Financial Services (NYSE: DFS), and slightly raised his price target from $45.00 to $46.00.

In the report, Smith noted, “We attended DFS' analyst day and came away incrementally more positive as credit trends continue to improve and expense levels should not be any worse than feared. Reflecting incrementally less provisioning, we are raising our 2013 EPS estimate slightly. We are also raising our price target to $46. We believe that DFS is an outlier among large financial institutions with some of the best returns, good growth prospects, a very strong balance sheet, but one of the lowest valuations.”

Discover Financial Services closed on Tuesday at $42.13.

Latest Ratings for DFS

DateFirmActionFromTo
Jul 2014UBSMaintainsNeutral
Jul 2014Deutsche BankMaintainsBuy
Jul 2014JP MorganMaintainsNeutral

View More Analyst Ratings for DFS
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Price Target Analyst Ratings

 

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