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UPDATE: Compass Point Initiates Coverage On Santander Consumer USA

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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
Sep 2016BarclaysMaintainsEqual-weight
Jul 2016BarclaysDowngradesOverweightEqual-weight
May 2016MacquarieDowngradesOutperformNeutral

View More Analyst Ratings for SC
View the Latest Analyst Ratings

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

 

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