Market Overview

Morgan Stanley's Views on Discover Financial Services are Reinforced by Investor Day

Share:
Related DFS
Banks Stocks Well Valued, Invest With 'Caution'
Discover Financial Services COO: There's 'Froth' Around Peer-To-Peer Lenders, But Confidence In Ability To Compete
The Vetr community has downgraded $DFS to 4-Stars (Vetr)

In a report published Friday, Morgan Stanley analyst Betsy L. Graseck reiterated an Overweight rating and $66.00 price target on Discover Financial Services (NYSE: DFS).

In the report, Morgan Stanley noted, “DFS has been actively increasing the duration of liabilities to be more asset sensitive (extended effective duration of funding by 3 years in 2013). As interest charge-offs remain low, higher APR balances attrite slower, and deposit costs continue to decline, we expect NIM remains relatively steady at 9.83% in 2014 vs. 9.81% in 4Q13, and declines to 9.73% in 2015 as the benefit from lower funding costs fades and loans mix shift toward lower yielding non-card loans.”

Discover Financial Services closed on Thursday at $56.48.

Latest Ratings for DFS

DateFirmActionFromTo
Jun 2015Stifel NicolausInitiates Coverage onBuy
May 2015BernsteinMaintainsMarket Perform
Apr 2015CitigroupMaintainsBuy

View More Analyst Ratings for DFS
View the Latest Analyst Ratings

Posted-In: Betsy L. Graseck Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

Related Articles (DFS)

Around the Web, We're Loving...

Get Benzinga's Newsletters