Analyst Mihir Bhatia from Bank of America Securities maintained a Buy rating on Synchrony Financial and keeping the price target at $84.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Mihir Bhatia has given his Buy rating due to a combination of factors including Synchrony Financial’s positive outlook for loan growth and controlled credit losses. The company’s management has expressed confidence in their growth momentum and their ability to maintain credit losses within a manageable range, which supports the Buy recommendation.
Additionally, Synchrony Financial benefits from Retailer Share Arrangements (RSAs), which align the company’s interests with its retail partners and help reduce earnings volatility during credit cycles. This unique advantage, along with positive consumer spending trends and the promising Walmart program, contributes to a favorable investment outlook for the company.
In another report released on September 11, Barclays also maintained a Buy rating on the stock with a $80.00 price target.