BTIG initiated coverage of Discover with a Neutral rating as part of a broader research note launching coverage on Consumer Finance names. The company’s current, publicly traded share valuation is actually in line with where shares should trade on a standalone basis, though Capital One’s planned acquisition now highlights the value in Discover’s payments network, the analyst tells investors in a research note. Even if the acquisition is not completed, Discover should retain this premium to its pre-merger announcement multiple, the firm added.
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