Discover price target raised to $185 from $160 at Wells Fargo

Wells Fargo raised the firm’s price target on Discover (DFS) to $185 from $160 and keeps an Equal Weight rating on the shares. The firm is constructive on the consumer finance stocks into the Q4 results, saying consumer metrics are trending better plus there are regulatory catalysts. Modestly higher interests rates are not a deterrent on fundamentals or the stocks, the analyst tells investors in a research note. Wells has “high conviction the rally is to resume for the card issuer and network stocks.”