Loading...
Loading...
In a report published Monday, Bank of America analyst Kenneth Bruce initiated coverage on
Springleaf HoldingsLEAF with a Neutral rating and $21.50 price target.
In the report, Bank of America noted, “We are initiating coverage on Springleaf Holdings Inc. (LEAF) with a Neutral rating and establishing a $21.50 Price Objective. LEAF is a leading direct subprime installment lender with an attractive branch footprint, budding acquisition platform and improving financial position. We expect LEAF to generate positive earnings in 2014 and reach +20% EPS growth in 2015. Since its IPO in mid-October, LEAF has appreciated 19% and expanded its valuation to 9.4x our 2015 EPS forecast. We think the near-term upside in LEAF may be limited, given its recent performance and relatively short history as a public company. Given the ~7% return to our current P.O., we think the shares warrant a Neutral rating.”
Springleaf closed on Friday at $20.18.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in