Navigating Discover’s Merger With Capital One: Analyst Highlights Opportunities And Challenges Ahead
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RBC Capital Markets analyst Jon G. Arfstrom downgraded Discover Financial Services (NYSE:DFS) to Sector Perform from Outperform at an increased price target of $140.00 (from $117).
The move came after the company inked a merger deal to be acquired by Capital One Financial Corp (NYSE:COF).
Per the terms, Discover shareholders will receive 1.0192 shares of Capital One for every share they hold, translating to a 26.6% premium over Discover’s last closing price …
Full story available on Benzinga.com
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