Keefe Bruyette analyst Sanjay Sakhrani downgraded Synchrony Financial to Market Perform from Outperform with a price target of $32, down from $46. Based on rising macroeconomic risks and other negative data points, the analyst is adopting an even more defensive posture. In conjunction with this view, the firm downgraded both Bread Financial and Synchrony.
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Published first on TheFly
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