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Fly News Breaks for November 7, 2018
GSKY
Nov 7, 2018 | 09:54 EDT
SunTrust analyst Andrew Jeffrey lowered his price target on GreenSky to $11 after its Q3 results, saying the revenues were impacted by a dearth of available contractors from the tight labor market that was exacerbated by hurricanes. The analyst also notes that the merchants' selection of higher APR products spread the revenues across the life of the loan. Longer term, Jeffrey keeps his Buy rating on GreenSky based on its "differentiated value proposition", strong profitability, and ample liquidity.
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