BofA downgraded Bread Financial to Neutral from Buy with a price target of $36, down from $44. Higher credit losses and upcoming late fee regulation are “outsized risks” given that Bread has the highest exposure to sub-prime consumers among the pure-play card issuers, the analyst tells investors.
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Read More on BFH:
- Bread Financial downgraded to Sell from Neutral at Goldman Sachs
- Bread Financial reports loans at August-end $17.94M vs. $18.02M last year
- Bread Financial downgraded to Sector Perform from Outperform at RBC Capital
- Bread Financial price target raised to $49 from $41 at JPMorgan
- Bread Financial management to meet virtually with Benchmark