Nomura Securities Upgrades Synchrony Financial (SYF) to Buy

Nomura Securities upgraded Synchrony Financial (NYSE: SYF) from Neutral to Buy with a price target of $38.00 (from $35.00).

Analyst Bill Carcache commented, "We are upgrading SYF to Buy from Neutral (TP to $38 from $35) based on our view that recent technical pressure relating to the separation from GE has created an attractive entry point. Fundamentally, we think the SYF story is rock solid; we expect the combination of strong secular tailwinds, further market share gains, and capital return upside to drive outperformance."

For an analyst ratings summary and ratings history on Synchrony Financial click here. For more ratings news on Synchrony Financial click here.

Shares of Synchrony Financial closed at $31.34 yesterday.

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