In a report released on June 9, Ryan Nash from Goldman Sachs maintained a Buy rating on Synchrony Financial (SYF – Research Report), with a price target of $70.00.
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Ryan Nash has given his Buy rating due to a combination of factors surrounding Synchrony Financial’s strategic initiatives. The recent partnership with OnePay to issue a new credit card program is expected to significantly enhance SYF’s financial performance. This collaboration is anticipated to drive organic loan growth by late 2025 or early 2026, which is a positive indicator for the company’s future prospects.
Furthermore, the partnership is projected to yield attractive risk-adjusted returns and align with SYF’s long-term financial goals, including achieving a return on assets target of approximately 2.5%. The disciplined approach SYF has taken in selecting partnerships suggests that this initiative will be beneficial. Additionally, the absence of a portfolio transfer from Capital One means this is a fresh start for SYF, potentially leading to new growth opportunities.
According to TipRanks, Nash is a 5-star analyst with an average return of 11.5% and a 65.26% success rate. Nash covers the Financial sector, focusing on stocks such as Synchrony Financial, Bread Financial Holdings, and American Express.
In another report released yesterday, Wells Fargo also reiterated a Buy rating on the stock with a $65.00 price target.