Discover Financial Services: The Potential Turnaround Story of 2024
Discover Financial Services (DFS), a well-known player in the financial sector, is under the spotlight as we head into 2024:
- Analyst Confidence: The analyst community sees more than 10% upside for DFS. Among the optimists of the bunch is TD Cowen’s analyst Moshe Orenbuch who gives the stock an outperform rating, with a $100 price target suggesting a 14.7% potential gain in the coming year.
- Credit Quality Outlook: Despite market concerns, the company seems to be well positioned for a slowdown in delinquency rates and sustain its growth in credit card services.
- Regulatory Challenges: While regulatory issues have been a drag, there’s a growing sentiment that these hurdles are improving and won’t significantly impact customer relationships.
- Stock Performance: With shares down nearly 10% since the beginning of 2023, the company presents a potentially undervalued opportunity for investors.
As Discover Financial Services navigates through these challenges, it represents an intriguing case for investors looking for potential growth in the financial sector amidst a turbulent market.
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