Credit Suisse Downgrades Nelnet (NNI) to Neutral; Balanced Risk/Reward
- Oil steady around $50 on doubts over OPEC output cuts
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- Universal Health (UHS) Disputes and Denies Conclusions in BuzzFeed Article
- Perrigo (PRGO) to Restructure BCH Omega Pharma Belgium Business; Will Terminate EuroGenerics Agreement
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Credit Suisse downgraded Nelnet (NYSE: NNI) from Outperform to Neutral with a price target of $48.00 (from $45.00) on balanced risk/reward amid stock gains.
Analyst Moshe Orenbuch commented, "Overall, we believe that shares of Nelnet are now fairly priced following strong price appreciation from the election, due to our expectation for limited capital return, and interest rate dynamics that should dampen earnings over the next several quarters, offset somewhat by the opportunity to win the Direct Loan servicing contract and the possibility of some increase in private sector involvement in government loans. Maintain ’17 estimate of $4.83 and increase price target from $45 to $48 (94% of 3Q17 estimated book) due to diminished regulatory risk, but downgrade to Neutral."
Shares of Nelnet closed at $47.31 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Credit Suisse Downgrades NetApp (NTAP) to Underperform
- Illumina (ILMN) Lower as Morgan Stanley Cuts Numbers, Sees Slow Growth Persisting
- Credit Suisse Assumes Costco Wholesale (COST) at Outperform; Sees Re-Acceleration in Momentum
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesCredit Suisse, Raising Prices, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!