RBC Capital raised the firm’s price target on Discover (DFS) to $161 from $148 and keeps a Sector Perform rating on the shares after its Q3 earnings beat. The firm continues to assume that the merger with Capital One (COF) will close in early 2025, but in terms of Q3 fundamentals for stand-alone Discover, its core trends were “decent”, with slightly higher revenues relative to expectations and continued improvement in the trajectory of card losses, the analyst tells investors in a research note.
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