Discover price target lowered to $90 from $95 at Wells Fargo

Wells Fargo analyst Donald Fandetti lowered the firm’s price target on Discover to $90 from $95 and keeps an Equal Weight rating on the shares following the Q3 results. Discover noted some incremental consumer stress, particularly lower FICO but also middle band, and it sounded like despite solid employment, other factors like lower savings and inflation are starting to weigh on their consumers, the analyst tells investors in a research note.