Synchrony price target lowered to $56 from $73 at RBC Capital

RBC Capital lowered the firm’s price target on Synchrony (SYF) to $56 from $73 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q1 results for Consumer Finance names. The firm anticipates consistent though seasonally-driven fundamental trends, with lower loans and volumes in the quarter, the analyst tells investors in a research note. RBC also expects stable credit trends, with improvement in year over year delinquencies for most names, warning however that Q1 loan loss provisions and reserve levels may reflect the recent more uncertain environment.