Bread Financial, Synchrony Analyst Turns Bullish As Credit Conditions Improve 'Over Next Few Quarters'
Portfolio Pulse from Hayden Buckfire
Bank of America analyst Mihir Bhatia upgraded Bread Financial Holdings Inc (NYSE:BFH) and Synchrony Financial (NYSE:SYF) to Buy ratings with price targets of $54, citing improving credit conditions and a delay in the CFPB's late fee rule. Bhatia expects credit losses to stabilize or improve over the next few quarters, benefiting both companies' income statements.
August 09, 2024 | 4:03 pm
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POSITIVE IMPACT
Bread Financial Holdings Inc (NYSE:BFH) was upgraded to a Buy rating by Bank of America with a price target of $54. Analyst Mihir Bhatia cited improving credit conditions and a delay in the CFPB's late fee rule as key factors.
The upgrade to a Buy rating and a price target of $54, along with improving credit conditions and delayed CFPB rule, are likely to positively impact BFH's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Synchrony Financial (NYSE:SYF) was upgraded to a Buy rating by Bank of America with a price target of $54. Analyst Mihir Bhatia highlighted improving credit conditions and a delay in the CFPB's late fee rule as significant factors.
The upgrade to a Buy rating and a price target of $54, along with improving credit conditions and delayed CFPB rule, are likely to positively impact SYF's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100