Credit Suisse analyst Moshe Orenbuch maintained a Buy rating on Synchrony Financial (NYSE: SYF) on June 15 and set a price target of $45. The company’s shares opened today at $35.
Orenbuch observed:
“We note that y/y change in the delinquencies rate also decelerated from April and YTD level. This continues to bode well for the expected lower reserve build on the ex-PayPal portfolio in 2018.”
According to TipRanks.com, Orenbuch is a 5-star analyst with an average return of 13.8% and a 74.5% success rate. Orenbuch covers the Financial sector, focusing on stocks such as Curo Group Holdings Corp, Santander Consumer USA, and OneMain Holdings Inc.
Synchrony Financial has an analyst consensus of Moderate Buy, with a price target consensus of $42.67.
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Based on Synchrony Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.6 billion and net profit of $640 million. In comparison, last year the company earned revenue of $3.32 billion and had a net profit of $499 million.
Based on the recent corporate insider activity of 104 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SYF in relation to earlier this year.
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Synchrony Financial operates as a holding company, which engages in the provision of consumer financial services. It operates through three sales platforms: Retail Card, Payment Solutions, and CareCredit. The Retail Card platform is a provider of private label credit cards, and also provides Dual Cards and small-and medium-sized business credit products.
