RBC Capital Downgrades Discover Finl to Sector Perform, Raises Price Target to $140
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Jon Arfstrom downgraded Discover Financial Services (DFS) from Outperform to Sector Perform while raising the price target from $117 to $140.
February 21, 2024 | 11:11 am
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NEUTRAL IMPACT
Discover Financial Services was downgraded by RBC Capital from Outperform to Sector Perform, though its price target was increased from $117 to $140.
The downgrade to Sector Perform suggests a neutral outlook on the stock's performance relative to the sector, potentially limiting upside momentum in the short term. However, the increase in price target to $140 indicates a positive view on the company's valuation, which could counterbalance the downgrade's impact. The net effect on the stock price is likely neutral in the short term, as the market digests both the downgrade and the raised price target.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100