UPDATE: J.P. Morgan Color on Discover Financial PT Increase

J.P. Morgan, which raised its PT on shares of Discover Financial DFS, is providing some color on the stock. “Despite an improved risk profile, shares of DFS appear fully valued,” J.P. Morgan writes. “We remain skeptical with respect to the company's ability to generate organic asset growth, maintain lending spreads, and enhance operating leverage. However, we continue to believe downside risks have been minimized by strong credit results and the authorization of a share repurchase.” Discover Financial closed Monday at $23.62.