On Oct 18, major Wall Street analysts update their ratings for $Synchrony Financial (SYF.US)$, with price targets ranging from $40 to $68.
Morgan Stanley analyst Jeffrey Adelson maintains with a sell rating, and maintains the target price at $40.
Goldman Sachs analyst Ryan Nash maintains with a buy rating, and adjusts the target price from $56 to $64.
Barclays analyst Terry Ma maintains with a hold rating, and adjusts the target price from $49 to $59.
Deutsche Bank analyst Mark DeVries maintains with a buy rating, and adjusts the target price from $58 to $68.
Evercore analyst John Pancari maintains with a buy rating, and maintains the target price at $58.
Furthermore, according to the comprehensive report, the opinions of $Synchrony Financial (SYF.US)$'s main analysts recently are as follows:
Synchrony displayed a 'solid' EPS performance and the narrative around delinquency stabilization persists. However, persistent concerns remain regarding the potential for a late fee cap, credit expectations, and a deceleration in spending growth projected for 2025.
Post the Q3 report, the perception is that Synchrony has adequately addressed key areas of focus, namely mitigant impact and credit, to assuage any concerns.
Synchrony's Q3 results demonstrated ongoing advancements towards credit stabilization and compensations for lost late fees. Despite the uncertainties arising from legal and political events, the anticipated impact on late fee revenue appears to be diminishing.
The company's third-quarter earnings per share of $1.94 exceeded expectations, bolstered by robust net interest income and margin strength. The new full-year 2024 earnings per share guidance, which excludes the Pets Best gain, assumes there will be no late fee rule in effect in 2024, contrasting with previous forecasts that incorporated an October 1 implementation.
The firm highlights Synchrony's third-quarter earnings surpassing expectations, emphasizing that the company's fundamentals remain robust with core performance aligning with projections. It's noted that credit trends at the company are showing signs of stability and that the observed growth normalization is indicative of the company's commitment to credit discipline within the current economic context.
Here are the latest investment ratings and price targets for $Synchrony Financial (SYF.US)$ from 10 analysts:
Note:
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