Discover price target lowered to $219 from $262 at Truist

Truist lowered the firm’s price target on Discover (DFS) to $219 from $262 and keeps a Buy rating on the shares as part of a broader research note Credit Card and Bank names. The firm is updating its models by taking into account recent conference updates, monthly credit data, and changes in cost of equity across the market, the analyst tells investors in a research note. Discover’s reduced price target reflects January and February charge-off metrics that were slightly higher than modeled, Truist adds.