Bread Financial Holdings, the Financial sector company, was revisited by a Wall Street analyst today. Analyst Tal Lev from TD Cowen maintained a Hold rating on the stock and has a $62.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Tal Lev has given his Hold rating due to a combination of factors influencing Bread Financial Holdings’ performance. The company’s recent earnings report showed a better-than-expected EPS, primarily driven by a reserve release and lower expenses, which offset the lower revenue figures. Management’s guidance indicated a decrease in credit losses, but this was accompanied by a forecast of reduced revenues.
Despite the positive aspects such as improved loss guidance and favorable trends in credit sales, the revenue outlook remains somewhat weak. Additionally, while the company is making progress towards its capital targets, the anticipated rise in expenses in the second half of the year could pose challenges. These mixed signals contribute to the Hold rating, reflecting a balanced view of both the potential upsides and the risks involved.
In another report released on July 14, RBC Capital also maintained a Hold rating on the stock with a $65.00 price target.