Synchrony price target raised to $49 from $45 at Wells Fargo

Wells Fargo raised the firm’s price target on Synchrony to $49 from $45 and keeps an Equal Weight rating on the shares. Wells Fargo sees higher net charge-offs plus lower net interest margin and flat allowance quarter over quarter in Q2, the analyst tells investors in a research note. The Consumer Financial Protection Bureau late fee rule is now in a Texas court process that may go past the election, which is a positive for the stock, the firm says.