Jefferies Remains Bullish Ahead of Santander Consumer USA's (SC) Trust Data Report
- Wall Street declines as some post-election gainers reverse
- The FTC Confirms Antitrust Charges Against Qualcomm (QCOM) for Monopolizing Semiconductor Device Used in Cell Phones
- United Airlines (UAL) Tops Q4 EPS by 5c
- Obama shows clemency to Manning, intelligence analyst behind leaks
- Big 5 Sporting Goods (BGFV) Q4 Comps Rise 3.1%; Guides Q4 Above the Street
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Jefferies reiterated a Buy rating and $15.00 price target on Santander Consumer USA Holdings Inc. (NYSE: SC) ahead of the company's August trust data report.
Analyst John Hecht commented, "SC reports August trust data on Thursday, September 15th. Our expectation is for modest seasonal reversion in DQs and NCOs. In the trusts, we forecast total DQs of 14.6% versus July's 14.0% while NCOs tick higher to 8.0% from 7.3%. Our quarterly 3Q16 estimate anticipates a similar reversion QoQ in NCOs (3Q16E NCOs of 9.4% vs 3Q15 of 7.8%). As a reminder, our 2Q16 analysis of trust data suggests credit upside (although the company has yet to report 2Q)."
Shares of Santander Consumer USA Holdings Inc. closed at $11.90 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: JPMorgan Downgrades OneMain (OMF) to Neutral
- Cowen Raises Price Target on GigOptix (GIG) to $4 Following 4Q Pre-announcement
- Bernstein Upgrades Lions Gate (LGF) to Outperform
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesJefferies & Co
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!