BofA lowered the firm’s price target on Bread Financial (BFH) to $55 from $57 and keeps a Buy rating on the shares. There were “few surprises” in the Q3 results and the company’s full-year guidance was unchanged, notes the analyst, who attributes shares modestly underperforming to continuing uncertainty on when credit loss rates will improve. A soft landing, recent credit tightening, and slower loan growth across the industry should benefit loss rates, particularly in the second half of 2025, says the analyst, who notes that Bread’s own reserve rate forecast also implies that 2025 losses will be in line with to better than in 2024.
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Read More on BFH:
- Bread Financial price target lowered to $34 from $35 at Barclays
- Bread Financial Reports September 2024 Performance Update
- Bread Financial Reports Q3 2024 Results and Strategic Moves
- Bread Financial reports Q3 adjusted EPS $1.83, consensus $1.86
- Is BFH a Buy, Before Earnings?
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