Synchrony Financial (SFY): A Hidden Credit Risk or E-Commerce Gem?

Mark Melin

Published onJuly 31, 2014

Updated on May 13, 2021

Who says you can’t find value in today’s market?

BTIG research initiated buy coverage on Synchrony Financial

BTIG research initiated buy coverage on Synchrony Financial (NYSE:SYF), the former GE financial credit card unit that opened up at $23 per share today after moving 125 million shares in an IPO Wednesday.

The pricing on this offering was at the low end of expectations, the Wall Street Journal noted. This lower end of the range pricing came amid concerns about the quality of Synchrony's assets, meaning the default potential – an issue that blew up in 2008 – might offset gains the card issuer is making in private-label and store-branded cards.

BTIG...

Login required to continue reading.

Setup a free account to get access to this article (no credit card required).

View Full Article

Already a member? Log in here

Mark Melin

Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

Synchrony Financial (SFY): A Hidden Credit Risk or E-Commerce Gem?

BTIG research initiated buy coverage on Synchrony Financial

Login required to continue reading.

Get Your Business News