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Ladenburg Thalmann upgrades Newtek Business Services to 'buy'

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Ladenburg Thalmann upgrades Newtek Business Services to 'buy'

Ladenburg Thalmann analyst Mickey Schleien upgraded Newtek Business Services Corp. to "buy" from "neutral."

In upgrading Newtek Business Services' stock, the analyst said the company is now the fifth-largest SBA 7(a) loans lender in the secondary market. The company sells 10-, 15-, 20- and 25-year SBA 7(a) loans and Schleien said that these loan sales are fundamental to its financial results.

Schleien said the company's current share price provides an attractive entry point, with its stock under pressure from volatility in the equity markets and removal from a stock index.

Newtek Business Services' price target is $19.