Compass Point on SC

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In a research note released Tuesday, Compass Point analyst Jason Stewart Initiated coverage on Santander Consumer USA Holdings Inc
SC
with a Neutral rating and a price target of $23.0. Shares of the company are down 1.28 percent on Tuesday and are down 17.78 percent year-to-date. The analyst said that the company is transforming itself into a diversified consumer lender though new captive finance relationships and an unsecured consumer lending business. Ina addition, the analyst said that the diversification of revenue should be able to help insulate the income statement from cyclicality. The analyst continued to say that the fed remains an over-hang, the company's parent company, did not meet the qualitative portion of the Fed's test. Shares of the company are down two percent on Tuesday.
Posted In: EarningsNewsGuidance
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