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Fly News Breaks for January 24, 2020
DFS
Jan 24, 2020 | 06:10 EDT
Piper Sandler analyst Kevin Barker downgraded Discover Financial Services to Neutral from Overweight with a price target of $86, down from $96, after taking over coverage of the name. The analyst expects Discover's profit margins to erode over the next several quarters as credit costs continue to move higher, loan growth slows and operating expenses grow at an outsized pace due to investment spending. He would be more positive on the stock if he saw some positive credit metrics and expense growth peak.
News For DFS From the Last 2 Days
DFS
Mar 27, 2024 | 16:14 EDT
Ally Financial (ALLY) announced that Michael Rhodes will be its new CEO, starting at the company on April 29. He will also be appointed as a member of Ally's board of directors at that time. Rhodes most recently served as CEO of Discover Financial Services (DFS) and was a member of the company's board of directors. He additionally held the role of President of Discover Bank and sat on the Bank's board of directors.