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RBC Capital raised the firm’s price target on Discover (DFS) to $210 from $193 and keeps a Sector Perform rating on the shares after its Q4 earnings beat. The firm notes that the company’s core trends were solid, with continued improvement in credit and a lower provision driving trends, and its pace of revenue growth strengthened compared to last year, while its higher expense levels remain a modest but manageable headwind, the analyst tells investors in a research note. RBC also remains optimistic that Discover’s merger with Capital One (COF) can close in early 2025.
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