Seaport Research analyst Bill Ryan raised the firm’s price target on Bread Financial (BFH) to $70 from $56 and keeps a Buy rating on the shares. The company released aggregate portfolio performance metrics for October 2024, which saw the delinquency formation rate experiencing its first year-over-year decline since early 2022, the analyst tells investors. The firm expected the rate to begin showing year-over-year declines in February or March next year, so Seaport sees October’s data as a favorable surprise.
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Read More on BFH:
- Bread Financial Reports Stable Loan Balances and Growth
- Bread Financial reports October net loss rate 7.9% vs 8% last year
- Bread Financial price target raised to $65 from $55 at BofA
- Bread Financial price target lowered to $56 from $58 at Seaport Research
- Bread Financial price target raised to $50 from $48 at TD Cowen