SYF Looks to Snap Losing Streak on C-Suite Shakeup, Analyst Praise

The equity hit an annual high last week before taking a mild breather

Laura McCandless

Deputy Editor

Jan 12, 2021 at 10:27 AM

Financial services company Synchrony Financial (NYSE:SYF) is in the spotlight today, after announcing several leadership transitions. The changes include Margaret Keane stepping down as CEO to become the executive chair of the board of directors, and current President Brian Doubles stepping up to succeed her. Amid the news, BMO raised its price target by $2 to $50, and Citigroup hiked its price target to $40 from $29. At last check, the stock is up 0.5% at $36.45.

With help from the 20-day moving average, SYF has been carving out a channel of higher highs since its early-November bull gap. After hitting a Jan. 7 annual high of $37.43, the stock cooled off a bit before today, and is now looking to snap a three-day losing streak. In the last nine months, the equity is up 129.5%.

Analysts are largely bullish on Synchrony stock, with 10 of the 14 in coverage at a "strong buy" rating, and the remaining four a lukewarm "hold." Plus, the 12-month consensus price target of $42.05 is a 15.6% premium to current levels.

Now could be a good time to weigh in on the security's next move with options. The stock is seeing attractively priced premiums at the moment, per SYF's Schaeffer's Volatility Index (SVI) of 44%, which sits in the 16th percentile of its annual range. Furthermore, the security's Schaeffer's Volatility Scorecard (SVS) sits at a relatively high 84 out of 100, meaning SYF has exceeded option traders' volatility expectations during the past year.

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