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Discover Financial Services (DFS)
by Zacks Equity ResearchOctober 03, 2012 | Comments : 0 Recommended this article: ()
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The introduction of home loan products also boosted revenues apart from diversifying the product portfolio. The company's extensive network, sound capital position, stable ratings, rapidly expanding acceptances and cost-containment initiatives will help accentuate growth over the long term.
Our six-month target price of $48.00 equates to 11.3x our earnings estimate for 2012. Given the annual cash dividend of $0.40, this price target implies an expected total return of 21% over that period. This is consistent with our Outperform recommendation on the shares.