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DFS

Discover

$68.27

-1.315 (-1.89%)

06:19
11/21/18
11/21
06:19
11/21/18
06:19

Discover's Diners partners with Brazil's Elo to launch Elo Diners Club cards

Discover's subsidiary Diners Club International and Elo, a 100% Brazilian payment brand, will extend their partnership with the launch of Elo Diners Club International Cards in Brazil. Elo, whose shareholders are Banco do Brasil, Bradesco and Caixa Economica Federal - extends its partnership with Discover by adding the Diners Club brand to its card portfolio in Brazil. Diners Club Brazil cards, that are issued by Elo, will run on the Discover Global Network. The two companies have worked together since 2015. The first transaction from this deal occurred in 2016 and since then Elo has issued several million Elo Global Cards in the first two years.

DFS Discover
$68.27

-1.315 (-1.89%)

10/01/18
WELS
10/01/18
NO CHANGE
Target $82
WELS
Market Perform
Discover price target raised to $82 from $76 at Wells Fargo
Wells Fargo analyst Donald Fandetti raised his price target for Discover to $82 from $76 ahead of quarterly results, citing lower provision expense as he projects Q3 NCO to come in slightly better than his estimate as well as lower assumed operating expenses. The analyst reiterates a Market Perform rating on the shares.
10/02/18
JPMS
10/02/18
UPGRADE
Target $89
JPMS
Overweight
Discover upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Richard Shane upgraded Discover Financial (DFS) to Overweight and raised his price target for the shares to $89 from $81. The company appears on track to execute a "soft landing" as loan growth stabilizes, Shane tells investors in a research note. The analyst says credit has outperformed expectations while multiples in the Credit Card space have compressed. This creates a more attractive opportunity for investment, according to Shane. He also raised his price target for Overweight-rated Capital One (COF) to $113 from $109 and for Neutral-rated American Express (AXP) to $115 from $105.
10/02/18
10/02/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Discover (DFS) upgraded to Overweight from Neutral at JPMorgan with analyst Richard Shane saying the company appears on track to execute a "soft landing" as loan growth stabilizes. 2. At Home Group (HOME) upgraded to Buy from Neutral at Goldman Sachs with analyst Matthew Fassler saying recent sales misses, tariff concerns, and macro data have created investor concerns and a "steep discount" in the shares relative to other growth retailers. 3. Nestle (NSRGY) upgraded to Buy from Hold at Jefferies with analyst Martin Deboo saying he's more bullish on the new CEO and the shares into the second half of the year. 4. Urban Outfitters (URBN) upgraded to Buy from Neutral at B. Riley FBR with analyst Susan Anderson saying she expects high consumer confidence to support strong same-store-sales for Urban and she views the shares as undervalued. 5. General Electric (GE) upgraded to Outperform from Sector Perform at RBC Capital with analyst Deane Dray saying he believes a floor has been put in the shares following news of Larry Culp being named Chairman and CEO. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/16/18
WBLR
10/16/18
NO CHANGE
WBLR
Outperform
Discover undervalued on 'misplaced' credit concerns, says William Blair
The credit concerns that have been weighing on Discover Financial Services' valuation multiple are "misplaced" considering the company's return on equity outlook, "stabilizing" credit trends and "very low" unemployment claims, William Blair analyst Robert Napoli tells investors in a research note. The analyst believes credit has been well controlled and that Discover has significant long-term growth opportunities in its core card and student loan businesses. He finds the stock undervalued and current levels and keeps an Outperform rating on the name.

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RHHBY

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