Jefferies Reiterates Buy on Santander Consumer USA (SC) After Chairman and CEO Steps Down
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Rating Summary:
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Jefferies reiterates a Buy rating and $31.00 price target on Santander Consumer USA Holdings Inc. (NYSE: SC) after it was announced that Thomas Dundon will step down as Chairman and CEO. Analyst John Hecht is very confident that this transition is not tied to any negative developments.
Hecht commented, "On 7/2, SC announced that Thomas Dundon will step down as Chairman and CEO and Jason Kulas will succeed him as CEO. Kulas has played a pivotal role at SC as its CFO and we believe the company has additional talented executives. We are confident that this is not tied to any negative development and believe the company remains solid operationally. We remain buyers as we believe the underlying fundamentals and ongoing management team are strong."
For an analyst ratings summary and ratings history on Santander Consumer USA Holdings Inc. click here. For more ratings news on Santander Consumer USA Holdings Inc. click here.
Shares of Santander Consumer USA Holdings Inc. closed at $26.20 yesterday.
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