Morgan Stanley raised the firm’s price target on Bread Financial (BFH) to $53 from $51 and keeps an Underweight rating on the shares. The firm upgraded its view on the North America consumer finance group to In-Line from Cautious. Interest rates are moving lower and the group’s near-term credit performance keeps improving, even amid slower hiring, which lessens downside risks for the stocks, the analyst tells investors in a research note. Morgan Stanley upped price targets in the sector as it rolled forward models to 2027.
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