UPDATE: Jefferies Downgrades Discover Financial Services to Hold on Growth/Expansion Unlikelihood

In a report published Wednesday, Jefferies analyst Daniel Furtado downgraded the rating on Discover Financial Services (NYSE: DFS ) from Buy to Hold, but reiterated the $49.00 price target. In the report, Furtado noted, “Q1 results were solid at DFS, with in-line revenues and a beat to our provision and