Synchrony downgraded to Neutral from Buy at BTIG

BTIG downgraded Synchrony (SYF) to Neutral from Buy without a price target The firm cites valuation for the downgrade with the shares its prior price target Synchrony has also done a good job controlling losses through its tighter underwriting, but its net charge-offs are unlikely to improve further, the analyst tells investors in a research note. In addition, BTIG believes Synchrony’s share buybacks will not accelerate further as capital is used for loan growth.