Synchrony price target raised to $84 from $83 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Synchrony (SYF) to $84 from $83 and keeps an Equal Weight rating on the shares. The firm updated its risk/reward for Synchrony following Q1 results. Credit quality continues to improve “nicely,” though the fir remains on the sidelines as the company is exposed to any slowing of discretionary spend and operating leverage still remains negative with sluggish loan growth, the analyst tells investors in a research note.