Barclays Upgrades Discover Financial Services (DFS) to Overweight
Discover Financial Services (NYSE:DFS) was upgraded by investment analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has a $93.00 price target on the financial services provider’s stock, up from their previous price target of $73.00. Barclays’ price objective suggests a potential upside of 25.08% from the stock’s previous close.
DFS has been the topic of several other research reports. Zacks Investment Research cut shares of Discover Financial Services from a “hold” rating to a “sell” rating in a report on Monday, October 23rd. Buckingham Research began coverage on shares of Discover Financial Services in a research report on Monday, October 2nd. They issued a “buy” rating and a $74.00 price target on the stock. ValuEngine downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, September 11th. BMO Capital Markets dropped their price objective on shares of Discover Financial Services from $69.00 to $67.00 and set a “market perform” rating for the company in a research note on Wednesday, October 25th. Finally, Morgan Stanley lowered their price objective on shares of Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, September 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $76.26.
Shares of Discover Financial Services (DFS) traded up $0.55 during midday trading on Monday, hitting $74.35. 2,368,839 shares of the company’s stock were exchanged, compared to its average volume of 2,637,429. Discover Financial Services has a fifty-two week low of $57.50 and a fifty-two week high of $74.68. The company has a market capitalization of $26,817.49, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.95 and a beta of 1.53. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.52.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Grove Bank & Trust grew its stake in shares of Discover Financial Services by 2,483.3% in the 3rd quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,490 shares during the period. Rational Advisors LLC purchased a new position in shares of Discover Financial Services in the 3rd quarter worth approximately $123,000. Americafirst Capital Management LLC purchased a new position in shares of Discover Financial Services in the 3rd quarter worth approximately $140,000. Capstone Investment Advisors Netherlands B.V. bought a new stake in shares of Discover Financial Services in the 2nd quarter worth approximately $157,000. Finally, San Francisco Sentry Investment Group CA bought a new stake in shares of Discover Financial Services in the 2nd quarter worth approximately $170,000. 84.99% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY WARNING: This piece was reported by American Banking News and is owned by of American Banking News. If you are reading this piece on another publication, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/12/11/barclays-upgrades-discover-financial-services-dfs-to-overweight.html.
About Discover Financial Services
Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.
Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.