JPMorgan downgraded Bread Financial to Neutral from Overweight with a price target of $36, down from $42. The firm believes late fee regulation, which could impact 10%-20% of high-margin revenues, and secular challenges in its private label portfolio cap share upside potential, the analyst tells investors.
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Read More on BFH:
- Morgan Stanley ups North American Consumer Finance view, changes 3 ratings
- Morgan Stanley gets more bearish on Bread Financial, downgrades shares
- Block upgraded, Bristol Myers downgraded: Wall Street’s top analyst calls
- Barclays starts U.S. consumer finance with Neutral industry view
- Bread Financial initiated with an Underweight at Barclays
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