BUZZ-Synchrony Financial rises after Wells Fargo raises PT to $100
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Shares of Synchrony Financial (SYF) rose 2.63% to $86.88 after Wells Fargo increased its price target from $95 to $100, indicating an 18.1% upside. The brokerage highlighted SYF's potential for higher growth and lower credit costs, driven by a new partnership with Walmart and a strong cash back offer for Walmart+ customers. SYF is also easing credit restrictions, which is expected to boost loan growth. Currently, 15 of 23 brokerages rate the stock as "buy" or "higher," with a median price target of $86. Over the past year, SYF has increased by 29.7%.
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