Bread Financial price target raised to $45 from $40 at Argus

Argus raised the firm’s price target on Bread Financial to $45 from $40 and keeps a Buy rating on the shares. Many of the company’s clients are airlines, cruise line operators, department stores and other retailers that were hit hard at the start of the pandemic, and are now facing pressure from rising costs and supply-chain disruptions, though Bread Financial will likely post stronger results over time, the analyst tells investors in a research note. The firm adds that it sees Bread Financial shares as “attractively valued” at current levels, with a price/sales multiple of 0.4 that is below the peer average of 1.0.