Bread Financial price target lowered to $74 from $76 at RBC Capital

RBC Capital analyst Jon Arfstrom lowered the firm’s price target on Bread Financial (BFH) to $74 from $76 and keeps a Sector Perform rating on the shares. Bread’s Q2 fundamentals were driven by improving core trends which supported a modest reserve release, and the outlook is consistent, and while there was a slight reduction in the near-term revenue outlook, RBC is encouraged by the stable to improving credit and spending trends, the analyst tells investors in a research note.