Synchrony price target raised to $46 from $37 at Barclays

Barclays raised the firm’s price target on Synchrony to $46 from $37 and keeps an Equal Weight rating on the shares as part of a Q2 earnings preview for the consumer lending group. Credit performance thus far in 2024 appears to be materializing as what the companies had guided to late last year, but valuations across consumer lenders appear full and already reflecting the credit outlook, the analyst tells investors in a research note. Given that, the firm thinks the bar for outperformance is “set quite high” into Q2 earnings.