Citi analyst Arren Cyganovich raised the firm’s price target on Discover Financial to $119 from $116 and keeps a Neutral rating on the shares. The analyst expects consumer finance stocks to report solid Q2 results with likely positive credit commentary and outlooks for loan growth. Into the quarter the analyst feels best about Discover and opened a “30-day positive catalyst watch” reflecting upside to its net interest income. Citi sees the most potential for an upside surprise to earnings from Discover.
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