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Fly News Breaks for May 15, 2019
OMF
May 15, 2019 | 07:39 EDT
As previously reported, Wedbush analyst Henry Coffey downgraded OneMain Holdings to Neutral from Outperform and lowered his price target on the shares to $35 from $40. The analyst acknowledges the company's continued success at growing its loan portfolio between 8%-10% and reporting favorable trends in credit metrics, but notes that the likely adoption of CECL in 2020 represents a "meaningful" headwind to GAAP results and its stock price.
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