Market Overview

UPDATE: Credit Suisse Upgrades Discover Financial Services to Outperform on Credit Quality, Valuation

Share:
Related DFS
The Week Ahead For November 13: Conferences, Earnings and IPO Events To Watch
Benzinga's Top Upgrades, Downgrades For October 25, 2017
DGI, AI, And The 'Gig Economy' - A Millennial Perspective (Seeking Alpha)

Credit Suisse upgraded Discover Financial Services (NYSE: DFS) from Neutral to Outperform and raised the price target from $44.00 to $47.00.

Credit Suisse noted, "We believe that Discover represents the best combination of strong operating fundamentals and valuation among the large card issuers. At present the shares sell under 9x our 2013 EPS estimates, and while the building of reserves limits near term EPS gains, we still see positive growth in EPS. Key points: (1) We believe DFS should have industry leading receivables and revenue growth in 2013-14. (2) The company is returning the vast majority of earnings. (3) DFS appears to be positioning the network to be a source of value to shareholders. And (4) valuation is the lowest of the major card issuers and most major banks."

Discover Financial Services closed at $39.95 on Thursday.

Latest Ratings for DFS

DateFirmActionFromTo
Oct 2017BMO CapitalMaintainsMarket Perform
Oct 2017BarclaysMaintainsEqual-Weight
Oct 2017Bank of AmericaMaintainsNeutral

View More Analyst Ratings for DFS
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Upgrades Analyst Ratings

 

Related Articles (DFS)

View Comments and Join the Discussion!

Partner Center