Piper Sandler Downgrades Discover Financial Following Q2 Revenue Disappointment
Portfolio Pulse from Lekha Gupta
Discover Financial Services (DFS) has been downgraded by Piper Sandler following disappointing Q2 2023 results. Other analysts also lowered their price targets and EPS estimates for the company due to lower-than-expected net interest income, higher expenses, and lower buybacks. Despite this, DFS shares are trading higher by 2.43% at $104.94.
July 21, 2023 | 6:44 pm
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Discover Financial Services (DFS) has been downgraded by Piper Sandler and other analysts have lowered their price targets and EPS estimates for the company. Despite this, DFS shares are trading higher.
The downgrade by Piper Sandler and lowered price targets and EPS estimates by other analysts indicate a negative sentiment towards DFS. This is likely to put downward pressure on the stock in the short term. However, the stock is currently trading higher, which may be due to other factors not mentioned in the article.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100