Market Overview

UPDATE: Compass Point Initiates Coverage On Santander Consumer USA

In a research note released Tuesday, Compass Point analyst Jason Stewart Initiated coverage on Santander Consumer USA (NYSE: SC) with a Neutral rating and $23.00 price target.

Stewart said that the company is transforming itself into a diversified consumer lender through new captive finance relationships and an unsecured consumer lending business. In addition, the analyst said that the diversification of revenue should be able to help insulate the income statement from cyclicality.

Stewart also said that the Fed remains an overhang -- the company's parent company, Banco Santander, did not meet the qualitative portion of the Fed's test.

Shares of Santander are down 1.69 percent Tuesday.

Latest Ratings for SC

DateFirmActionFromTo
Dec 2014JMP SecuritiesInitiates Coverage onMarket Outperform
Nov 2014Bank of AmericaDowngradesNeutralUnderperform
Nov 2014Deutsche BankMaintainsBuy

View More Analyst Ratings for SC
View the Latest Analyst Ratings

Posted-In: Compass Point Jason StewartAnalyst Color Price Target Initiation Analyst Ratings

 

Related Articles (SC)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional