Discover Financial Services (NYSE:DFS) shares are trading higher on Monday after Morgan Stanley maintained its Overweight rating on the stock and raised its price target from $56 to $58 per share.
Discover Financial Services is a bank operating in two distinct segments: direct banking and payments. The company issues credit and debit cards and provides other consumer banking products including deposit accounts, student loans, and other personal loans. In addition, it generates revenue from payments processed on the Discover network. The Discover Network is the third-largest payment network as ranked by overall merchant acceptance, trailing Visa and Mastercard.
Discover shares were trading up 0.86% at $61.14 on Monday. The stock has a 52-week range between $92.98 and $23.25.
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