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UPDATE: Morgan Stanley Reiterates On Santander Consumer USA on Multiple Positive Factors

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In a report published Monday, Morgan Stanley analyst Cheryl M. Pate reiterated an Overweight rating on Santander Consumer USA Holdings (NYSE: SC), and raised the price target from $29.00 to $30.00.

In the report, Morgan Stanley noted, “SC reported strong results in its first quarter as a public company, with higher than expected origination volumes and top line, and better than forecast efficiency. While the reserve build was above expectations, we believe provisions will more closely match charge offs going forward, and the reserve ratio will remain around the 11% level.”

Santander Consumer USA closed on Friday at $22.50.

Latest Ratings for SC

DateFirmActionFromTo
Nov 2019MaintainsEqual-Weight
Nov 2019DowngradesBuyNeutral
Sep 2019DowngradesEqual-WeightUnderweight

View More Analyst Ratings for SC
View the Latest Analyst Ratings

Posted-In: Cheryl M. Pate Morgan StanleyAnalyst Color Price Target Analyst Ratings

 

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