Morgan Stanley analyst Jeff Adelson assumed coverage of Synchrony (SYF) with an Underweight rating and unchanged price target of $30. Following Q4 reporting, the firm is incrementally more bullish on prospects of a softer credit landing and identifies Ally and Discover (DFS) as two ways to play that theme. However, the credit cycle is not yet over, as net charge offs are set to rise though 2024, adds the analyst, who maintains an In-Line rating on the Consumer Finance industry.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on SYF:
- Synchrony put volume heavy and directionally bearish
- Synchrony partners with PatientNow for payment technology in cosmetic industry
- Synchrony Announces Quarterly Common Stock Dividend of $0.25 Per Share
- Synchrony price target raised to $48 from $46 at Piper Sandler
- Synchrony price target raised to $41 from $40 at BofA