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Fly News Breaks for May 3, 2019
DFS
May 3, 2019 | 08:48 EDT
RBC Capital analyst Jon Arfstrom assumed coverage of Discover with a Outperform rating and a price target of $96, saying the company is "attractively valued" and also "well positioned" to produce strong consumer loan growth with high return generation. The analyst further cites Discover's expense discipline and technology deployment that contribute to its "peer-leading high-30% efficiency ratio" while noting that its credit quality is "manageable" despite the gradual rise its in net charge-offs.