Bread Financial price target raised to $41 from $38 at Seaport Research

Seaport Research analyst Bill Ryan raised the firm’s price target on Bread Financial to $41 from $38 and keeps a Buy rating on the shares. The analyst reduced estimates to reflect the updated credit outlook, weaker loan receivables growth, and some margin compression partly offset by anticipated expense reductions. However, for 2024, the firm believes the performance of Bread’s stock will revolve around late fee regulations and, secondarily, credit development.