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%.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 26, 2020 12:22 ET (16:22 GMT)
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