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DFS

Discover

$73.80

0.35 (0.48%)

07:54
12/11/17
12/11
07:54
12/11/17
07:54

Discover price target raised to $80 from $70 at Wedbush

Wedbush analyst Henry Coffey raised his price target for Discover to $80 from $70 to factor in the high probability that marginal corporate tax rates decline from 35% to 20% in 2019. The analyst also notes that the lowered corporate and middle class tax rates promised by the bill greatly increases his confidence that he does not see a recession in 2018 and 2019. He reiterates an Outperform rating on the shares.

DFS Discover
$73.80

0.35 (0.48%)

10/25/17
COMP
10/25/17
DOWNGRADE
COMP
Neutral
Discover downgraded to Neutral from Buy at Compass Point
Compass Point analyst William Ryan downgraded Discover to Neutral citing valuation and lack of catalysts to push shares higher.
10/25/17
10/25/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. General Motors (GM) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Adam Jonas citing the stock's 40% rise over the past year, which he attributes to investors having "finally noticed" the company's "bold and difficult moves" to reposition the core business. 2. Discover (DFS) downgraded to Neutral from Buy at Compass Point with analyst William Ryan citing valuation and lack of catalysts to push shares higher. 3. Hanesbrands (HBI) downgraded to Market Perform from Outperform at Wells Fargo with analyst Ike Boruchow saying the shares have "both longer and shorter-term headwinds to fight through." 4. Chipotle (CMG) downgraded to Market Perform from Outperform at Telsey Advisory with analyst Bob Derrington saying he finds it increasingly difficult to recommend shares given the substantial volatility in its operating results and lack of visibility surrounding its earnings outlook. 5. Acadia (ACHC) was downgraded to Hold from Buy at Deutsche Bank and to Neutral from Outperform at Baird. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/15/17
MSCO
11/15/17
NO CHANGE
MSCO
Morgan Stanley says higher SIFI threshold could benefit Comerica, CIT, Zions
After Senate Banking Committee Chairman Mike Crapo proposed a bill in the Senate that would effectively remove the SIFI threshold for banks under $250B, Morgan Stanley analyst Ken Zerbe estimated that banks with $50B-$100B in assets could see a 12% increase in 2020 EPS and a 15% bump in 2021. He sees the largest potential increase at Comerica (CMA), followed by CIT Group (CIT) and Zions Bancorp (ZION). Zerbe projects the least EPS benefit for SunTrust (STI), Regions Financial (RF), Ally Financial (ALLY) and Discover (DFS), he tells investors. Other banks he lists in his note as potentially impacted by SIFI and CCAR changes include Synchrony (SYF), M&T Bank (MTB), KeyCorp (KEY), Fifth Third (FITB), BB&T (BBT), Citizens Financial (CFG) and Huntington Bancshares (HBAN).
12/11/17
LEHM
12/11/17
UPGRADE
Target $93
LEHM
Overweight
Discover upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Mark DeVries upgraded Discover Financial Services (DFS) to Overweight and raised his price target for the shares to $93 from $73. The consumer lenders should benefit from both lower corporate tax rates and lower personal taxes, DeVries tells investors in a research note laying out his 2018 outlook for the U.S. Consumer Finance sector. He sees prime and near-prime lenders Synchrony (SYF) and Discover benefitting the most. The analyst believes the stocks offer "compelling value" at current levels. DeVries upped his price target for Overweight-rated Synchrony shares to $53 from $43 and names the stock his new top pick.

TODAY'S FREE FLY STORIES

HFC

HollyFrontier

$68.75

-0.165 (-0.24%)

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TXT

Textron

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0.13 (0.19%)

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GS

Goldman Sachs

$230.50

-0.51 (-0.22%)

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Conference/Events
Cowen Internet & new media analyst to hold an analyst/industry conference call »

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SERV

ServiceMaster

$61.85

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HZN

Horizon Global

$6.89

(0.00%)

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OMC

Omnicom

$72.81

-5.31 (-6.80%)

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  • 17

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IGT

International Game

$25.17

0.78 (3.20%)

09:47
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  • 02

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GOL

Gol Linhas

$6.66

0.27 (4.23%)

09:47
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FPI

Farmland Partners

$6.54

0.445 (7.30%)

09:47
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CATM

Cardtronics

$26.60

(0.00%)

09:46
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  • 02

    Aug

09:45
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General news
Housing Market Index to be reported at 10:00 »

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CMCSA

Comcast

$34.98

(0.00%)

, CMCSK

Comcast

$0.00

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Periodicals
NBCU relaunches Craftsy as subscription-video service Bluprint, Variety reports »

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CMCSA

Comcast

$34.98

(0.00%)

CMCSK

Comcast

$0.00

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JNJ

Johnson & Johnson

$124.70

(0.00%)

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  • 17

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BA

Boeing

$356.01

(0.00%)

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  • 25

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SNA

Snap-On

$163.93

(0.00%)

09:41
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  • 19

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VEON

Veon

$3.05

(0.00%)

, HFC

HollyFrontier

$68.91

(0.00%)

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Unusually active option classes on open July 17th »

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VEON

Veon

$3.05

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UNH

UnitedHealth

$257.03

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CZR

Caesars

$11.63

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MCD

McDonald's

$158.76

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NFLX

Netflix

$400.24

4.32 (1.09%)

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WEX

Wex

$194.01

-2 (-1.02%)

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GS

Goldman Sachs

$231.01

4.71 (2.08%)

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NVRO

Nevro

$58.79

1.04 (1.80%)

09:35
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  • 27

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FLT

FleetCor

$216.11

-4.06 (-1.84%)

09:35
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SQ

Square

$66.95

-0.06 (-0.09%)

09:35
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