Piper Sandler lowered the firm’s price target on Discover to $96 from $100 and keeps a Neutral rating on the shares. Discover reported an operating EPS miss driven primarily by a greater than expected reserve build, the analyst tells investors in a research note. The firm would need more visibility on improving comps to become more constructive on the stock at this point in the cycle, it says.
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Read More on DFS:
- Discover price target lowered to $90 from $95 at Wells Fargo
- Discover price target lowered to $93 from $94 at Citi
- Discover reports Q4 revenue net of interest expense $4.04B, consensus $3.95B
- Discover reports Q3 EPS $2.59, consensus $3.18
- Discover options imply 4.9% move in share price post-earnings