Discover price target raised to $150 from $145 at Jefferies

Jefferies raised the firm’s price target on Discover to $150 from $145 and keeps a Buy rating on the shares. Card issuer “stock values turned sideways” in Q2 after a strong Q1, though credit trends from the most recent trust data has been better than seasonality, in-line with issuer guides, the analyst tells investors in an earnings preview note for the group. Late fee regulatory uncertainty remains, though this issue “could be tied up in court for a while,” the analyst added.