Bread Financial, Synchrony Analyst Turns Bullish As Credit Conditions Improve ‘Over Next Few Quarters’
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An analyst upgraded Bread Financial Holdings Inc (NYSE:BFH) and Synchrony Financial (NYSE:SYF) following improving credit conditions and the delay of a Consumer Financial Protection Bureau (CFPB) late fee rule.
The Bread and Synchrony Analyst: Bank of America analyst Mihir Bhatia released a Friday note on the consumer finance industry.
- Bhatia upgraded Bread Financial to a Buy rating with a price target of $54.
- Bhatia upgraded Synchrony Financial to a Buy rating with a price target of $54.
Main Takeaways: Bread and Synchrony are two of the largest private-label credit card issuers.
Bhatia is optimistic as the current credit cycle peaks and delinquencies look poised to fall.
“We believe we are in the later stages of the current credit cycle and our analysis points to credit losses being stable to improving over the next few quarters,” the analyst …
Full story available on Benzinga.com
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