- JMP Securities analyst David Scharf downgrades Alliance Data Systems (ADS -2.4%) to Market Perform from Market Outperform as shares look fairly valued.
- Holds "less conviction" in the company's near-term portfolio growth targets.
- Scharf has "broader questions about the longer-term durability, competitive positioning, and yield outlook of many of the company’s newer and faster-growing retail clients."
- Scharf's recommendation is more optimistic than the Bearish Quant rating; before the downgrade, the Sell-Side average rating was Bullish (5 Very Bullish, 4 Bullish, 11 Neutral).
- In the past six months, ADS has declined 32% vs. the information technology sector median performance of +16%.
Alliance Data loses a bull
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