Keefe, Bruyette & Woods Initiates Market Perform Rating On Nelnet, Inc. (NNI)

Keefe, Bruyette & Woods is out with a note, where it initiates a “Market Perform” rating on shares of Nelnet, Inc. NNI; it also has raised its price target to $23.00 on the stock. NNI reported an EPS of $1.17 in the second quarter, which heavily beat out KBW estimates of $0.91 and consensus estimates of $0.95. The better-than-anticipated EPS was driven by higher-than-expected net interest income. Nelnet is an education finance company that offers a variety of products to help students enroll in and pay for K-12 and higher education. Shares of NNI are currently trading at $21.46, up 52 cents on the day.