Bread Financial price target raised to $52 from $45 at Barclays

Barclays raised the firm’s price target on Bread Financial (BFH) to $52 from $45 and keeps an Underweight rating on the shares as part of a Q2 earnings preview for the consumer finance space. Card delinquency trends improved through May, which should help drive a continued improvement in net charge offs, the analyst tells investors in a research note. However, Barclays says most stocks in the group are trading above historical valuation averages, which sets a high bar for outperformance Q2.