BofA raised the firm’s price target on Synchrony (SYF) to $85 from $82 and keeps a Buy rating on the shares. The firm notes shares of Synchrony are trading down following the company’s Q4 results likely driven by disappointment in the net revenue outlook. While Synchrony’s outlook for $15.2B-$15.7B brackets BofA/consensus at $15.6B/$15.5B, BofA’s conversations suggest some investors were looking for upside to sell-side estimates. Still, taking all the pieces of the outlook together, the firm estimates 2025 forecasts will increase driven by better credit and expenses, which should offset the slightly lower top-line.
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