As previously reported, Morgan Stanley analyst Jeffrey Adelson upgraded Bread Financial (BFH) to Overweight from Underweight with a price target of $76, up from $35. The firm adds EPS upside from late fee rule preparatory actions and notes that its base case now assumes the CFPB’s late fee rule does not go through. The 2024 story was “one of stabilization,” as higher delinquencies moderated to the slowest pace in nearly three years. Looking to 2025, support should remain in place, with easing inflation, positive real wage growth, stable-to-lower interest rates, rational lending standards, says the firm, which sees consumer credit “on solid footing in 2025.”
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Read More on BFH:
- Bread Financial upgraded to Overweight from Underweight at Morgan Stanley
- Bread Financial Holdings Reports November 2024 Performance Update
- Bread Financial reports November net loss rate 8% vs. 7.9% last year
- Bread Financial price target raised to $88 from $67 at Keefe Bruyette
- Bread Financial price target raised to $66 from $65 at BofA
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
