Discover price target lowered to $103 from $105 at Wells Fargo

Wells Fargo analyst Donald Fandetti lowered the firm’s price target on Discover to $103 from $105 and keeps an Equal Weight rating on the shares. The high conviction bid for consumer lenders as seen in January and February has evaporated, but there could be a "pop then fade" for the stocks on solid Q1 results, the analyst tells investors in a research note.