Credit Suisse analyst Moshe Orenbuch lowered the firm’s price target on Discover to $120 from $123 and keeps an Outperform rating on the shares following the company’s Q4 earnings results. Post earnings, the analyst adjusted his 2023/2024 EPS estimate to $15.08/16.75 from $16.30/18.00 to reflect new guidance and trends. Orenbuch noted that management seems conservative in their 2023 loss outlook, and he believes "given continued strong spending trend and moderating payment rate, growth will once again beat guidance."
Published first on TheFly
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