UPDATE: Credit Suisse Initiates Coverage Synchrony Financial On Market Leader Position

In a report published Tuesday, Credit Suisse analyst Moshe Orenbuch initiated coverage on Synchrony Financial (NYSE: SYF) with an Outperform rating and $30.00 price target.

In the report, Credit Suisse noted, “SYF provides credit cards and small and medium credit products for retail purchases and health care services through its Retail Card, Payment Solution and CareCredit Platforms. Strong marketing and analytics provides retailers with an attractive partner – better than overall credit card industry. Retail card structure (RSAs) limit credit risk compared to general purpose credit cards.”

Synchrony Financial closed on Monday at $24.84.