RBC Capital raised the firm’s price target on Bread Financial to $58 from $47 and keeps a Sector Perform rating on the shares after its Q2 earnings beat. The company’s fundamentals were solid with stabilizing credit metrics, controlled expenses, and reasonable revenue trends, the analyst tells investors in a research note. Losses appear to have peaked in Q2, though the expected improvement from here will likely be gradual, RBC adds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BFH:
- HP Inc. expands financing options for consumers across all credit tiers
- Bread Financial Holdings Announces Dividend, Investor Update
- Bread Financial sees 2024 revenue down in low- to mid-single digits
- Bread Financial reports Q2 adjusted EPS $2.67, consensus $1.77
- Bread Financial™ Provides Performance Update for June 2024