Synchrony price target lowered to $58 from $59 at Evercore ISI

Evercore ISI lowered the firm’s price target on Synchrony to $58 from $59 and keeps an Outperform rating on the shares. The firm expects “a dynamic 3Q earnings season for the specialty finance names,” as the Fed rate cut and consumer credit stress take center stage and both could pose risk to expectations. The firm expects a heavy focus on net interest income outlooks as rates decline, adding that most in the group are poised to see pressure given asset sensitive balance sheets, the analyst tells investors in a preview note.