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Enter Symbol:
 
Discover Financial Services (DFS) [hlAlert]

Rating:
Hold DFS

Discover Financial Services (DFS) upgraded to Hold by Citigroup

Posted on: Wednesday,  Dec 10, 2008  8:25 AM ET by Citigroup

Citigroup rated Hold Discover Financial Services (NYSE: DFS) on 12/10/2008. Previously Citigroup rated Sell Discover Financial
Services (NYSE: DFS) on 07/24/2007., when the stock price was $25.32. Since then, Discover Financial Services has lost 59.87% of its value until Citigroup rated DFS Buy on 12/10/2008, when the price was $10.16. .

Discover Financial Services (DFS) is a credit card issuer and electronic payment services company. DFS is also engaged in payments processing. Its business segments include U.S. Card and Third-Party Payments. U.S. Card segment includes Discover Card-branded credit cards issued over Discover?s card network (the Discover Network), and consumer lending and deposit products offered through its subsidiary, Discover Bank. Third-Party Payments segment includes PULSE Network (PULSE), an automated teller machine (ATM), debit and electronic funds transfer network; Diners Club International (Diners Club), and its third-party business. On March 31, 2008, DFS sold its United Kingdom credit card business (Goldfish) to Barclays Bank PLC. On June 30, 2008, the Company acquired Diners Club International. In July 2008, DFS announced the opening of a new subsidiary, Discover Information Technology (Shanghai) Ltd., in the People?s Republic of China, to support its data analysis and modeling operations.

Citi Investment Research is a highly respected research unit and is comprised of 390 research analysts across 22 countries. Citi Investment Research covers 3,100 companies, representing 90 percent of the market capitalization of the major global indices, and provides macro and quantitative analysis of global markets and sector trends. Combined with Citi's exceptional sales and trading capabilities and Smith Barney's financial consultants, the core focus of the group is to help investing clients make informed decisions by providing value-added, independent, insightful analysis.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
10/10/2013 8:25 AM Buy
None
50.02
as of 12/24/2008
1 Week up  6.31 %
1 Month down  -79.02 %
3 Months down  -45.99 %
1 YTD up  21.87 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
12/10/2008 8:25 AM Hold
None
10.16
7/24/2007 9:25 AM Sell
None
25.32 24.00

(*) Stock Price at the time of the recommendation.
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