Barclays raises Discover to 'overweight'
American Express Co., Capital One Financial Corp. and Riverwoods-based Discover Financial Services were raised to "overweight" at Barclays Capital Inc., which said a peak in charge-offs is near and the companies will benefit from declining credit costs.
"The industry has reached an inflection point in credit," Bruce Harting, a Barclays analyst based in New York, wrote in a research note. He boosted the stocks from "equal weight."
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