Keefe Bruyette & Woods Has $20 Target On Discover (DFS)

Keefe Bruyette & Woods has a $20 target and Buy rating on shares of Discover Financial Servces DFS after meeting with company management, specifically Yan Chang, VP of Portfolio Management at Discover, and Craig Streem, Head of Investor Relations yesterday. In the report Keefe, Bruyete & Woods writes, "We believe the payment industry has the potential to generate solid organic growth as consumers and businesses shift from traditional forms of payment such as cash and checks to credit and debit cards, but also from an increase in card usage across the globe." Shares of Discover Financial Services are up 10 cents to $14.78 in early Tuesday trading.