BMO Capital lowered the firm’s price target on Discover to $104 from $116 and keeps a Market Perform rating on the shares. The company’s Q4 earnings miss was due to higher credit and operating costs that drove a lower net interest income, the analyst tells investors in a research note. Full-year guidance for credit and growth is also worse than implied by the management commentary last December, the firm added.
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:
- IBM upgraded, Hertz downgraded: Wall Street’s top analyst calls
- Discover price target lowered to $117 from $130 at RBC Capital
- Discover price target lowered to $111 from $140 at Deutsche Bank
- Discover price target lowered to $105 from $112 at Morgan Stanley
- Discover price target lowered to $127 from $133 at Citi
