BMO Capital analyst James Fotheringham lowered his price target on Discover (DFS) to $85 and kept his Market Perform rating after its Q4 earnings miss driven by higher than expected costs. The analyst states that the company's peers such as Capital One (COF) and Synchrony (SYF) offer "much greater potential valuation", with Discover on the "wrong side of growth math" relative to those names. Fotheringham also warns about potential negative credit surprises as Discover is accelerating its loan growth despite a decelerating overall market.
Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSBank... To see the rest of the story go to thefly.com. See Story Here