Market Overview

UPDATE: Citigroup Reiterates Neutral Rating, Lowers PT on Discover Financial Services

Share:
Related DFS
This Millennial Trader Pinpoints Customer Service As A Key Sign Of Company Longevity
The Week Ahead: Earnings, Earnings, And More Earnings
Diamond Hill Capital Buys Discover Financial Services, Philip Morris International Inc, ... (GuruFocus)

In a report published Friday, Citigroup reiterated its Neutral rating on Discover Financial Services (NYSE: DFS), but slightly lowered its price target from $44.00 to $43.00.

Citigroup noted, “We have arguably entered a new phase for DFS shares as provisioning uncertainty has crept in and upside surprises are more limited. The stock is still reasonably priced at 8.8x our '13 est and mgt will ask for a more aggressive cap return in Q1, so it's difficult to see much downside though material gains now seem off the table unless we get a financial sector re-rating. The stock has also been very strong this year and is broadly owned. Lowering 2013/14 estimates by 10c on reserve build and target to $43 on lower est's.”

Discover Financial Services closed on Thursday at $38.41.

Latest Ratings for DFS

DateFirmActionFromTo
Oct 2017Wells FargoReinstatesOutperformMarket Perform
Oct 2017BuckinghamInitiates Coverage OnBuy
Sep 2017Morgan StanleyMaintainsOverweight

View More Analyst Ratings for DFS
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (DFS)

View Comments and Join the Discussion!
Loading...

Partner Center

Loading...