Bread Financial falls after Goldman Sachs cuts rating to 'sell'

Bread Financial Holdings

03/10/2023 17:02

** Shares of consumer lender Bread Financial Holdings
 BFH.N  fall ~4.3% to $32.09 after Goldman Sachs downgrades to
'sell' from 'neutral' 
    ** Brokerage cuts PT on BFH to $32 from $44 
    ** Goldman says BFH shares are likely to underperform the
broader sector as credit loss provisions are expected to remain
elevated for a period of time 
    ** Adds uncertainty from late fees regulation will also be a
overhang on the stock until at least the middle of next year 
    ** Seven of 16 brokerages rate the stock "buy" or higher,
eight "hold" and one "sell"; their median PT is $42.50 vs $44
last month - LSEG data 
    ** Including session losses, stock down ~14.8% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))