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Fly News Breaks for September 11, 2019
ADS
Sep 11, 2019 | 05:47 EDT
Goldman Sachs analyst Ryan Nash upgraded Alliance Data Systems to Buy from Neutral with a price target of $152, down from $184. After peaking at $310 in 2015, shares of Alliance Data are off 57% as the company has "battled a long list of issues," including credit normalization, lower recoveries and retailer struggles leading to slower growth. Further, more recently, the stock has underperformed the market in 2019 by almost 35% as a disappointing business divestiture, management overhaul and lower earnings have weighed, Nash tells investors in a research note. However, at current prices, Alliance Data's risk/reward skew is favorable, Nash tells investors in a research note.
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