Goldman Sachs Maintains Discover Financial Services Buy Recommendation

Investing

Published: August 22, 2023 6:55 am

Last Updated: August 22, 2023 12:07 pm

Fintel reports that on August 21, 2023, Goldman Sachs maintained coverage of Discover Financial Services (NYSE:DFS) with a Buy recommendation.

Analyst Price Forecast Suggests 31.30% Upside

As of August 2, 2023, the average one-year price target for Discover Financial Services is 120.83. The forecasts range from a low of 99.99 to a high of $143.85. The average price target represents an increase of 31.30% from its latest reported closing price of 92.03.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Discover Financial Services is 14,658MM, an increase of 35.85%. The projected annual non-GAAP EPS is 14.06.

What is the Fund Sentiment?

There are 1759 funds or institutions reporting positions in Discover Financial Services. This is an increase of 14 owner(s) or 0.80% in the last quarter. Average portfolio weight of all funds dedicated to DFS is 0.25%, a decrease of 3.15%. Total shares owned by institutions decreased in the last three months by 5.43% to 247,999K shares. The put/call ratio of DFS is 0.70, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital World Investors holds 21,119K shares representing 8.45% ownership of the company. In it’s prior filing, the firm reported owning 21,267K shares, representing a decrease of 0.70%. The firm increased its portfolio allocation in DFS by 9.25% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 8,101K shares representing 3.24% ownership of the company. In it’s prior filing, the firm reported owning 8,292K shares, representing a decrease of 2.36%. The firm decreased its portfolio allocation in DFS by 8.86% over the last quarter.

AWSHX – WASHINGTON MUTUAL INVESTORS FUND holds 7,370K shares representing 2.95% ownership of the company. In it’s prior filing, the firm reported owning 6,760K shares, representing an increase of 8.28%. The firm decreased its portfolio allocation in DFS by 2.97% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 6,229K shares representing 2.49% ownership of the company. In it’s prior filing, the firm reported owning 6,316K shares, representing a decrease of 1.40%. The firm decreased its portfolio allocation in DFS by 7.59% over the last quarter.

VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 6,118K shares representing 2.45% ownership of the company. In it’s prior filing, the firm reported owning 6,363K shares, representing a decrease of 4.01%. The firm decreased its portfolio allocation in DFS by 5.98% over the last quarter.

Discover Financial Services Background Information
(This description is provided by the company.)

Discover Financial Servicesis a digital banking and payment services company with one of the most trusted brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America’s cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation’s leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world.

This article originally appeared on Fintel

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