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Fly News Breaks for May 12, 2016
CACC, SC, CPSS, CRMT
May 12, 2016 | 08:22 EDT
Janney Capital analyst John Rowan noted that weak used car prices have led to poor credit performance for auto lenders including Consumer Portfolio Services (CPSS), Santander Consumer (SC) and Credit Acceptance Corp. (CACC). Given that, he advises "extreme caution" be taken ahead of the report due May 23 from America's Car-Mart (CRMT), adding that new data from TransUnion suggests that Car-Mart's footprint is highly concentrated in the worst performing states in terms of delinquencies. The firm keeps its Neutral rating on Car-Mart shares.
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