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Synchrony price target lowered to $53 from $56 at BMO Capital
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Synchrony price target lowered to $53 from $56 at BMO Capital

BMO Capital analyst James Fotheringham lowered the firm’s price target on Synchrony to $53 from $56 but keeps an Outperform rating on the shares. The company topped expectations on Q4 earnings, but BMO’s reduced price target reflects Synchrony’s lower excess capital, the analyst tells investors in a research note. The firm also anticipates the company’s net charge-off rates to be higher and its credit provisions to continue to rise throughout the balance of this year, though it remains positive on the stock longer term given Synchrony’s best-in-class normalized operating efficiency and increasing exposure to fast-growing e-commerce retail partners.

Published first on TheFly

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