Synchrony price target raised to $79 from $68 at JMP Securities

JMP Securities raised the firm’s price target on Synchrony (SYF) to $79 from $68 and keeps an Outperform rating on the shares. The firm sees incremental improvements in consumer health based on credit and spending trends based on October and November performance data from Synchrony, though notes continued cautious underwriting from issuers despite easing inflation. The price target increase reflects the more favorable regulatory environment expected under the new administration, along with additional data that provides further confidence that the worst of the credit stress for the industry is in the past while consumer spending continues to moderately improve, the analyst tells investors in a research note.