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Financial sector stocks have been red-hot since the November election led by bank stocks as investors become increasingly optimistic about the impact of another large stimulus package, a resumption of buybacks and a longer-term economic recovery.
On Tuesday, JPMorgan updated its coverage of consumer finance stocks by issuing several upgrades and downgrades and said there are plenty of areas to love and plenty to hate in the space in 2021.
The Analyst: JPMorgan analyst Richard Shane issued the following ratings changes on Tuesday:
American Express Company (NYSE: AXP) upgraded from Underweight to Overweight, price target raised from $105 to $148.
Synchrony Financial (NYSE: SYF) upgraded from Neutral to Overweight, price target raised from $28 to $46.
10 Best Consumer Finance Stocks To Buy Now
In this article we analyze the 10 best consumer finance stocks to buy now. The consumer finance industry suffered in 2020 amid a decline in consumer spending. However, analysts see a sharp rebound in 2021 and beyond as the world comes back to normal. To skip ahead our discussion of the reasons you should invest in consumer finance stocks, click to see the
As public distrust in major banks grows amid an increased likelihood of a global recession following the coronavirus pandemic, the consumer finance sector is thriving. The rapidly changing consumer habits in borrowing and managing finances is also proving to be a tailwind for consumer finance companies in the U.S. People use consumer finance companies for credit cards, receiving loans for cars, education and housing. The consumer finance sector got hammered by the coronavirus pandemic as people restricted spending and borrowing. But signs of recovery are already here. According to a re