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Fly News Breaks for February 1, 2019
SC, CACC
Feb 1, 2019 | 09:34 EDT
BMO Capital analyst James Fotheringham raised his price target on Credit Acceptance (CACC) to $390 after its "broad-based" Q4 earnings beat and its higher expected loan balances. The analyst also keeps his Market Perform rating on the stock, reflecting the "negative impact of narrowing spreads, extended loan terms, and increasing purchase loans penetration." Fotheringham believes that Credit Acceptance trades at an "unwarranted premium" and recommends that investors buy its peer Santander Consumer (SC).
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