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Synchrony +1.0% after BofAML turns bull

Published 01/30/2019, 09:28 AM
© Reuters.  Synchrony +1.0% after BofAML turns bull
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  • Synchrony Financial (NYSE:SYF) rises 1.0% in premarket trading after Bank of America Merrill Lynch (NYSE:BAC) analyst Kenneth Bruce upgrades the stock to buy from neutral, as recent favorable announcements remove some potential threats to the stock.
  • Sees shares re-rating higher, helped by renewal of Sam's Club pact, sale of Walmart (NYSE:WMT) portfolio to Capital One, and Walmart's dismissing its lawsuit against Synchrony.
  • Says strong fundamental outlook remains discounted.
  • Boosts price target to $37 from $30.
  • Source: Bloomberg First Word.
  • Analyst ratings.
  • Previously: Synchrony +10% on Q4 beat, Sam's Club pact, Walmart resolution (Jan. 23)
  • Now read: Ally Financial Q4 bolstered by retail deposit growth


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