Synchrony price target raised to $46 from $40 at Stephens

Stephens analyst Vincent Caintic raised the firm’s price target on Synchrony to $46 from $40 and keeps an Equal Weight rating on the shares. The firm is “somewhat surprised” that shares were down slightly after 2024 guidance that was better than consensus estimates and while it maintains an Equal-Weight rating, it takes up its target on higher EPS estimates. Credit remains the primary investor concern, with skepticism that NCOs can return to the long-term underwriting run-rate, notes the firm, which is worried about macro consumer credit weakness but expects the shares will outperform if/when this happens.