Discover Financial (DFS) Gets Price Target Hike at Jefferies
NEW YORK (TheStreet) -- Discover Financial's (DFS) - Get Report price target was raised to $66 from $60 at Barclays Wednesday morning.
The firm maintained its "buy" rating on the Riverwoods, IL-based financial services company after Discover Financial posted fiscal 2016 second quarter earnings after closing bell yesterday.
For the quarter, Discover Financial reported adjusted earnings of $1.47 per share on revenue of $2.22 billion. Analysts surveyed by Thomson Reuters expected $1.42 per share on revenue of $2.23 billion.
Despite its mixed earnings results, Jefferies noted that the company is still confident in its projections for fiscal 2017, due to Discover Financial's predictability.
"We would describe the quarter as generally consistent with expectations as well as recent quarterly results, and view this as a positive and indicative of a prudently managed credit business within a variable business climate," Jefferies continued an analyst note.
Shares of Discover Financial are falling by 2.49% to $55.56 in on Wednesday morning.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate DISCOVER FINANCIAL SVCS INC as a Buy with a ratings score of B+. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, good cash flow from operations, expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: DFS
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