SunTrust analyst Andrew Jeffrey lowered his price target on Alliance Data to $250, citing a "myriad" of challenges for the company. The analyst points to a "late-cycle credit risk, inconsistent non-Card results and no assurance management can divest non-core businesses, as publicly discussed". Although Jeffrey keeps his Buy rating on Alliance Data, stating that an "announcement of the intent to sell most of Epsilon could provide a catalyst", he also warns that the valuation of its for-sale assets may be "constrained if the company simply announces its intent, rather than an LOI".