Bread Financial price target raised to $83 from $70 at RBC Capital

RBC Capital analyst Jon Arfstrom raised the firm’s price target on Bread Financial (BFH) to $83 from $70 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q4 for Consumer Finance names. The firm expects stable fundamentals as the consumer continues to demonstrate resiliency in a solid and potentially improving macro environment, the analyst tells investors in a research note. For the quarter, RBC expects positive sequential loan growth to be driven by seasonal tailwinds, forecasting “modest improvements in core credit metrics”.