Evercore ISI analyst John Pancari lowered the firm’s price target on Discover to $90 from $112 and keeps an In Line rating on the shares. The analyst also added the shares to the firm’s “Tactical Underperform list.” Discover disclosed Roger Hochschild’s immediate resignation as CEO with no explicit rationale cited, and the change could be related to its recent regulatory and risk oversight issues, the analyst tells investors in a research note. The firm believes regulatory risk, management uncertainty, and expense implications could pressure Discover shares.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on DFS:
- Why Is Discover Financial Stock (NYSE: DFS) Trending Lower Despite Loan Growth?
- Discover confirms CEO Roger Hochschild steps down, John Owen interim CEO
- Discover CEO Roger Hochschild resigns, John Owen named interim CEO
- PULSE extends debit fraud detection agreement with FICO
- Abbott upgraded, Carvana downgraded: Wall Street’s top analyst calls