BofA analyst Mihir Bhatia raised the firm’s price target on Synchrony to $38 from $37 and keeps a Neutral rating on the shares. The company reported May operating metrics, highlighted by resilient loan growth and net charge-off rates that are trending in line with expectations, the analyst tells investors in a research note. The release was “modestly positive” as loan balances already exceeded consensus Q2 expectations and credit metrics remain in check, the firm added.
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