Synchrony Financial shares (SYF) are surging toward their best single-day percentage gain on record Thursday, according to Dow Jones Market Data, with the stock up more than 16% in midday trading. The private-label credit-card company's stock began trading in 2014 after General Electric Co. (GE) offered a small percent of Synchrony stock to the public. Synchrony formally separated out of GE in 2015. Jefferies analyst John Hecht wrote in a Thursday note to client that Synchrony is among the lenders he would "prioritize" during the current period of economic uncertainty as the stock appears "resilient" along with peers Aaron's Inc. [aan], Ally Financial Inc. (ALLY), FirstCash Inc. (FCFS), and OneMain Holdings Inc. (OMF). "Within the credit card peer group, SYF is the best positioned with the highest risk-adjusted margin at 9.6%," Hecht wrote. Synchrony shares have lost 47% so far this year as the S&P 500 has dropped 20%.
Any recommendation, opinion or advice regarding securities or markets contained in such material does not reflect the views of TD Ameritrade, and TD Ameritrade does not verify any information included in such material.