Jefferies downgraded Discover (DFS) to Hold from Buy with an unchanged price target of $180. The company’s Q1 results showed continued positive momentum as a standalone entity, the analyst tells investors a research note. However, the firm downgraded Discover to Hold given the imminent closure of the Capital One (COF) takeover on May 18. Given the approval and completion date, Discover shares are now tied to the transaction specifics, contends Jefferies.
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