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Barclays upgraded Synchrony Financial from "equal weight" to "overweight," raising the price target from $59 to $79. While seven analysts rated the stock as a hold, fourteen issued buy ratings, leading to an average rating of "Moderate Buy" with a consensus target price of $68.10. Vanguard Group trimmed its holdings by 3%, owning 12.36% of the company, while other investors also adjusted their positions.
Synchrony Financial has seen a mix of analyst ratings recently, with StockNews.com downgrading it to "hold," while JPMorgan and Morgan Stanley upgraded their ratings to "overweight" with price targets of $72.00 and $82.00, respectively. The company, which provides various consumer financial services, has an average rating of "Moderate Buy" and a target price of $68.10, with significant institutional ownership at 96.48%. Recently, it reported earnings of $1.91 per share, exceeding expectations, and announced a quarterly dividend of $0.25, reflecting a yield of 1.79%.
Northern Trust Corp has increased its stake in Synchrony Financial to 5,183,717 shares, valued at $336.9 million, while Southpoint Capital Advisors LP raised its holdings by 37.9% to 4,600,000 shares worth $229.4 million. Institutional investors own 96.48% of the stock. Synchrony Financial, a consumer financial services company, reported a Q4 EPS of $1.91, exceeding estimates, and has a current market cap of $21.7 billion. Analysts maintain a "Moderate Buy" rating with a consensus price target of $68.10.
Consumers in the U.S. are cutting back on spending due to ongoing inflation and a deteriorating economic outlook, according to Synchrony Financial. The Consumer Confidence Index has dropped for four consecutive months, reaching its lowest point since late 2022, while delinquencies on loans are rising, raising concerns about household financial strain. Financial stocks are also feeling the impact, with significant declines observed in major companies like Discover Financial Services.
U.S. consumers are reducing spending due to high inflation and a bleak economic outlook, leading to increased debt and rising delinquencies in auto loans, credit cards, and home credit lines. Retailers report cautious shopping behavior, with consumers prioritizing deals and lower-priced items. Analysts warn that this trend may signal future credit payment issues, as federal student loan delinquencies are set to reappear, potentially straining already stretched finances.
U.S. consumer confidence has plummeted to a 12-year low, with the Conference Board reporting a significant drop in its headline measure and expectations index. Synchrony Financial noted that households are tightening spending amid rising inflation concerns, impacting retail stocks like Walmart and Target. Despite the gloomy outlook, Synchrony maintains a Moderate Buy rating, suggesting potential upside for its stock.
Kelly Shaw has returned to Synchrony Ventures as its head, after serving as a partner at Vestigo Ventures. Previously, she was vice president of M&A at Synchrony Ventures from 2016 to 2019. The firm focuses on early-stage investments in financial services, healthcare, and commerce startups.
U.S. consumers are reducing spending amid rising prices and economic uncertainty, as reported by Synchrony Financial. This shift is accompanied by increased debt levels and rising delinquencies in auto loans, credit cards, and home credit lines, signaling financial strain despite most consumers maintaining loan repayments. Consumer confidence is declining, prompting caution across all income groups.
U.S. consumers are reducing spending amid rising inflation and economic uncertainty, leading to increased debt and higher delinquency rates in auto loans, credit cards, and home credit lines. Retailers report cautious shopping behavior, with consumers seeking deals and opting for lower-priced items. Analysts warn that this trend could signal worsening financial conditions, potentially resulting in higher loan defaults as federal student loan delinquencies reemerge.
U.S. consumers are reducing spending due to high prices and economic uncertainty, with purchase volumes declining across all income groups. As debt levels rise and delinquencies increase, particularly with the end of student loan forbearance, analysts warn of potential financial strain on households. Retailers report that shoppers are being more cautious, seeking deals and opting for lower-priced items, indicating a vulnerable consumer landscape.
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