Jefferies Remains Bullish on Santander Consumer USA (SC) Ahead of Trust Data

October 14, 2016 8:53 AM EDT
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Price: $14.32 +2.51%

Rating Summary:
    5 Buy, 12 Hold, 1 Sell

Rating Trend: = Flat

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    Up: 0 | Down: 0 | New: 0
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Jefferies reiterated a Buy rating and $15.00 price target on Santander Consumer USA Holdings Inc. (NYSE: SC) ahead of the company's September trust data.

Analyst John Hecht commented, "SC reports September trust data on Monday, October 17th. Our expectation is for modest seasonal reversion in DQs and NCOs. In the SDART trusts, we forecast total DQs of 14.9% versus August's 14.7% while NCOs tick higher to 9.5% from 8.6%. Our quarterly 3Q16 estimate anticipates a similar reversion QoQ in NCOs (3Q16E NCOs of 9.4% vs 3Q15 of 7.8%). As a note, our 2Q16 analysis of trust data suggests credit upside (although the company has yet to fully report 2Q)."

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 $12.46 yesterday.



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