Credit Suisse Downgrades Nelnet (NNI) to Neutral; Balanced Risk/Reward
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
News and research before you hear about it on CNBC and others. 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
- Pivotal Research Downgrades Kroger (KR) to Hold
- Jefferies Raises Price Target on Ulta Salon (ULTA) to $270; Reiterates Hold
- Jefferies Cuts Price Target on PG&E Corp. (PCG) to $65 Following Rate Case Decision
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!