Bread Financial price target lowered to $53 from $64 at Stephens

Stephens lowered the firm’s price target on Bread Financial to $53 from $64 and keeps an Overweight rating on the shares. While the company’s NCO guidance missed expectations, most attention has been directed to the company’s plans to mitigate the impact of potential CFPB late fees, which investors are giving more credibility to after the company outlined its ability to generate strong returns even if late fees are restricted, the analyst tells investors.