Synchrony Financial shares have traded cheaply for the last several months, and it’s time to snap up the stock, Baird argued.
Analysts led by Brennan Crowley initiated coverage of the financial-services company at Outperform with a price target of $56 on Thursday.
The stock was up 5.2% to $46.54 in morning, on track for its highest close…
shares have traded cheaply for the last several months, and it’s time to snap up the stock, Baird argued.
Analysts led by Brennan Crowley initiated coverage of the financial-services company at Outperform with a price target of $56 on Thursday.
The stock was up 5.2% to $46.54 in morning, on track for its highest close since Jan. 18, 2022, according to Dow Jones Market Data. It was also the top performer in the
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is the #1 domestic private label credit card platform, with tenured large retailer partnerships, and an experienced management team,” they wrote.
Baird views the stock as a solid investment within the consumer-finance sphere and believes near-term challenges including the Consumer Financial Protection Bureau’s late-fee proposal, and weaker credit quality trends will curb over coming quarters.
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“SYF is one of the cheapest direct bank investment opportunities in the market, trading at 20%+ discounts on TBV [tangible book value], PPNR [preprovision net revenue], and revenue, creating a compelling case to buy an excellent consumer lending franchise,” the Baird analysts added.
So far this year, shares are up 22%, and over the last 12 months, the stock has gained 37%.
Write to Emily Dattilo at emily.dattilo@dowjones.com
