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Fly News Breaks for August 1, 2019
CACC
Aug 1, 2019 | 09:12 EDT
BMO Capital analyst James Fotheringham raised his price target on Credit Acceptance to $484 after its better than expected earnings and revenue in Q2 driven by higher yields and lower loan loss provisioning that offset higher operating expenses. The analyst is keeping his Market Perform rating on the stock however, citing the company's "premium valuation" and the receipt of a subpoena from NY AG in May regarding its origination and collection practice.
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