How Will This New Rating Affect Synchrony Financial (SYF) Stock Today?

Story updated at 9:50 a.m. to reflect market activity.

NEW YORK (TheStreet) -- Nomura (NMR) initiated coverage of Synchrony Financial (SYF) Monday with a "neutral" rating.

Shares of Synchrony Financial fell -0.1% to $25.76 in morning trading.

The analyst firm set a price target of $23 for the credit services company. Synchrony Financial is losing partners as rising costs are compressing margins, according to Nomura analysts.

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SYF Chart SYF data by YCharts

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