As previously reported, Oppenheimer analyst Dominick Gabriele upgraded Encore Capital to Outperform from Perform, with a $37 price target. Profitability at Encore Capital likely bottomed in 2018, and 2019 and 2020 could show incremental Improvement in EBIT/IC, he contends. The analyst thinks the mixture of better than originally forecast collections rates as well as longer tailed curves will lead to higher overall collections from the existing book. Gabriele believes Encore Capital is oversold versus the earnings and profitability trajectory in 2019/2020.