Synchrony price target raised to $53 from $49 at Wells Fargo

Wells Fargo analyst Donald Fandetti raised the firm’s price target on Synchrony to $53 from $49 and keeps an Equal Weight rating on the shares. Tone on the consumer is consistent with prior comments, the firm notes, highlighting low-end moderating spend, particularly discretionary, while the affluent is strong. CFPB late fee seems caught up in a court process that’s likely to carry past the election, in Well’s view.