UPDATE: Deutsche Bank Reiterates On J.G. Wentworth On Lowered EPS Estimates

In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on

, but lowered the price target from $20.00 to $14.00. In the report, Deutsche Bank noted, “Lowering EPS estimates, resulting in $14 TP; Remains Buy. With the company reporting a second consecutive miss and limited visibility to growth in payment stream purchases (TRBs), we are lowering our TRB growth estimates, resulting in lower margins as well. We are lowering our 2014-2015 EPS estimates by 13% and 22%, respectively, to $1.70 and $1.95. We do not change our valuation methodology - assigning a PEG ratio that is at the top of the lowest quartile of comps, or 0.56x. This results in a $14 TP, the equivalent of 7.2x our 2015E below-Consensus EPS, and 44% upside to the current price.” J.G. Wentworth closed on Friday at $9.71.