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News Breaks | | | | March 13, 2013 | | 10:27 EDT |  | DFS | Discover Financial climbs following FBR Capital upgrade
Shares of Discover Financial (DFS), a credit card network, are rising after FBR Capital analyst Scott Valentin upgraded his rating on the stock to Outperform from Market Perform in a note to investors earlier today. After attending Discover's Analyst Day yesterday, Valentin believes that the company's trends are exceeding expectations. Specifically, the company is benefiting from higher credit card usage, more favorable interest trends and lower credit costs, wrote Valentin, who raised his target on the shares to $48 from $42. In a financial community briefing yesterday, Discover predicted that its net interest margin for fiscal 2013 would be above normal levels. The company added that its delinquency rate for February inched down to 1.8% from 1.81% in January, although net charge-offs increased to 2.6% from 1.95%. In mid-morning trading, Discover Financial advanced 85c, or 2%, to $43. | |
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News For DFS From The Last 14 Days Check below for free stories on DFS the last two weeks. |
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| May 16, 2013 | | 08:11 EDT |  | DFS | Discover network business remains undervalued, says Susquehanna
Susquehanna believes Discover's network business is still undervalued calling a hidden asset. The firm expects the company's multiple to expand as the network surfaces on the PayPal and other partnerships. Shares are Positive rated with a $49 price target. | | | May 15, 2013 | | 07:25 EDT | | DFS | Discover reports April net charge-offs 1.94% vs. 2.13% last month
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