Discover Financial Services (DFS) - Bull of the Day
29 Febbraio 2012 - 1:00AM
Zacks
We are upgrading our recommendation on
Discover Financial
Group (DFS) to Outperform based on its exceptional card sales
volume, strong balance sheet and rapidly expanding acceptances.
Steady inorganic growth is also a long-term positive.
The company's fourth quarter earnings modestly beat the Zacks
Consensus Estimate on lower loan loss provisions, higher
transaction and credit card sales volumes, along with record-low
delinquency and charge-off rates. Higher consumer spending and
merchant acceptance contributed to the substantial expansion of
income across segments.
While acquisitions enhanced Discover's product portfolio, a
dividend increase and share buyback also injected optimism. The
company's extensive network, sound capital position and
cost-containment initiatives will help accentuate growth over the
long term.
DISCOVER FIN SV (DFS): Free Stock Analysis Report
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