Morgan Stanley lowered the firm’s price target on Discover to $100 from $107 and keeps an Equal Weight rating on the shares. While Discover sounded “hopeful” on buybacks, the call did not address most of the firm’s questions, including the decision behind the CEO exit, details into the FDIC consent order, expense trajectory, timing of buyback restart, and other regulatory actions, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on DFS:
- Discover CFO says misclassification probe nearing completion
- Discover considering internal, external candidates for new CEO
- Discover call volume above normal and directionally bullish
- Why Is Discover Financial Stock (NYSE: DFS) Trending Lower Despite Loan Growth?
- Evercore cuts Discover target, adds to “Tactical Underperform list’