Bullish indicating open at $55-$60, IPO prices at $37
Investing.com - JMP Securities has reiterated its Market Outperform rating on Synchrony Financial (NYSE:SYF) with a price target of $77.00. The target represents potential upside from the current price of $69.30, with analyst targets ranging from $57 to $100. According to InvestingPro data, the stock is currently trading near its 52-week high of $71.88.
The research firm’s analysis suggests that Buy Now, Pay Later (BNPL) offerings have affected private label cards’ share of retail purchase volume, but with varying impact across companies.
According to JMP, Synchrony Financial is experiencing a much lower level of competition from BNPL offerings compared to other companies in the sector.
The firm also noted that Synchrony is seeing some traction from its own in-house BNPL platform, which appears to be performing well in the market.
JMP analyst David Scharf maintained the existing rating and price target, suggesting continued confidence in Synchrony’s market position despite the evolving competitive landscape in consumer financing.
In other recent news, Synchrony Financial has seen several notable developments. Truist Securities raised its price target for Synchrony Financial to $68, reflecting adjustments in earnings per share estimates for 2025 and 2026, citing improved credit metrics. Synchrony has also regained a significant partnership with Walmart (NYSE:WMT) to issue exclusive credit cards, marking a return after the account shifted to another company in 2018. This collaboration will introduce a general-purpose card and a private label card, integrated into the OnePay app, enhancing Walmart’s financial services offering. Additionally, Synchrony has partnered with Jewelers Mutual to provide integrated financing and insurance services to jewelry retailers, aiming to improve customer purchasing experiences.
The company’s resilience amid competition in the Buy Now/Pay Later (BNPL) market was highlighted in a Citizens JMP analysis. The study noted that Synchrony’s in-house BNPL platform is gaining traction, with significant partnerships, including one with Lowe’s (NYSE:LOW). Analysts remain constructive on Synchrony Financial, despite the competitive landscape. The collaboration with Walmart and Jewelers Mutual, along with the positive analyst outlook, suggests a promising period for the company.
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