Wells Fargo & Company Boosts Synchrony Financial (SYF) Price Target to $35.00

Synchrony Financial (NYSE:SYF) had its price target boosted by analysts at Wells Fargo & Company from $33.00 to $35.00 in a report released on Monday. The firm currently has a “market perform” rating on the financial services provider’s stock. Wells Fargo & Company’s price objective points to a potential upside of 5.93% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research raised Synchrony Financial from a “strong sell” rating to a “hold” rating in a research note on Monday. Morgan Stanley lifted their price target on Synchrony Financial from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday. JMP Securities lifted their price target on Synchrony Financial from $35.00 to $37.00 and gave the stock a “market outperform” rating in a research note on Monday. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Synchrony Financial in a research note on Friday. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $39.00 price target on shares of Synchrony Financial in a research note on Thursday, October 12th. Twelve analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $36.63.

Shares of Synchrony Financial (SYF) traded down 0.7588% during mid-day trading on Monday, reaching $32.7893. The company had a trading volume of 3,209,090 shares. The firm has a market capitalization of $26.08 billion, a PE ratio of 12.3129 and a beta of 1.01. The stock has a 50 day moving average price of $30.41 and a 200 day moving average price of $29.93. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $38.06.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.06. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. During the same period in the previous year, the firm earned $0.73 EPS. On average, equities analysts forecast that Synchrony Financial will post $2.60 earnings per share for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc. bought a new stake in shares of Synchrony Financial during the second quarter valued at approximately $520,747,000. Global X Management Co. LLC boosted its position in shares of Synchrony Financial by 28.8% during the first quarter. Global X Management Co. LLC now owns 6,226 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 1,394 shares in the last quarter. Cambria Investment Management L.P. bought a new stake in shares of Synchrony Financial during the first quarter valued at approximately $1,194,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of Synchrony Financial by 15.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 409,428 shares of the financial services provider’s stock valued at $12,209,000 after purchasing an additional 55,662 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of Synchrony Financial by 58.5% during t

A number of other equities analysts have also recently commented on the company. Zacks Investment Research raised Synchrony Financial from a “strong sell” rating to a “hold” rating in a research note on Monday. Morgan Stanley lifted their price target on Synchrony Financial from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday. JMP Securities lifted their price target on Synchrony Financial from $35.00 to $37.00 and gave the stock a “market outperform” rating in a research note on Monday. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Synchrony Financial in a research note on Friday. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $39.00 price target on shares of Synchrony Financial in a research note on Thursday, October 12th. Twelve analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $36.63.

Shares of Synchrony Financial (SYF) traded down 0.7588% during mid-day trading on Monday, reaching $32.7893. The company had a trading volume of 3,209,090 shares. The firm has a market capitalization of $26.08 billion, a PE ratio of 12.3129 and a beta of 1.01. The stock has a 50 day moving average price of $30.41 and a 200 day moving average price of $29.93. Synchrony Financial has a 12-month low of $26.01 and a 12-month high of $38.06.

Synchrony Financial (NYSE:SYF) last announced its quarterly earnings results on Friday, October 20th. The financial services provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.06. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Synchrony Financial had a return on equity of 15.30% and a net margin of 13.84%. During the same period in the previous year, the firm earned $0.73 EPS. On average, equities analysts forecast that Synchrony Financial will post $2.60 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This article was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another domain, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this article can be read at https://ledgergazette.com/2017/10/23/wells-fargo-company-boosts-synchrony-financial-syf-price-target-to-35-00.html.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc. bought a new stake in shares of Synchrony Financial during the second quarter valued at approximately $520,747,000. Global X Management Co. LLC boosted its position in shares of Synchrony Financial by 28.8% during the first quarter. Global X Management Co. LLC now owns 6,226 shares of the financial services provider’s stock valued at $214,000 after purchasing an additional 1,394 shares in the last quarter. Cambria Investment Management L.P. bought a new stake in shares of Synchrony Financial during the first quarter valued at approximately $1,194,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of Synchrony Financial by 15.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 409,428 shares of the financial services provider’s stock valued at $12,209,000 after purchasing an additional 55,662 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of Synchrony Financial by 58.5% during the first quarter. Point72 Asset Management L.P. now owns 3,667,370 shares of the financial services provider’s stock valued at $125,791,000 after purchasing an additional 1,353,070 shares in the last quarter. Institutional investors own 87.06% of the company’s stock.

Synchrony Financial Company Profile

Synchrony Financial is a consumer financial services company. The Company provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The Company’s revenue activities are managed through three sales platforms: Retail Card, Payment Solutions and CareCredit.

Analyst Recommendations for Synchrony Financial (NYSE:SYF)

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