Credit Suisse Downgrades Nelnet (NNI) to Neutral; Balanced Risk/Reward

November 14, 2016 6:13 AM EST
Get Alerts NNI Hot Sheet
Price: $50.70 +1.34%

Rating Summary:
    3 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
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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."

For an analyst ratings summary and ratings history on Nelnet click here. For more ratings news on Nelnet click here.

Shares of Nelnet closed at $47.31 yesterday.

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