Discover price target raised to $118 from $113 at Citi

Citi analyst Arren Cyganovich raised the firm’s price target on Discover Financial to $118 from $113 and keeps a Neutral rating on the shares. Discover’s 2023 outlook was mixed with worse credit, but stronger loan growth and a healthy net interest margin, the analyst tells investors in a research note. The firm believes the shares are appropriately reflecting recession risk.