Sterne Agee reiterated its Buy rating on Discover Financial Services DFS and raised its price target from $40 to $45.
Sterne Agee noted, "The forward momentum in this company's Direct Bank and network points to a company capable of continuing to invest and grow the card business, expand the network, develop/launch new products, buy back stock, and build reserves as needed. Reflecting this we are increasing our estimates and raising our price target from $40 to $45."
Discover Financial Services closed at $39.71 on Thursday.
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