Fly News Breaks for December 18, 2019
Dec 18, 2019 | 08:58 EDT
Janney Montgomery Scott analyst John Rowan upgraded World Acceptance to Neutral from Sell with an unchanged fair value estimate of $87 following the stock's 34% pullback since the company's disappointing earnings report on October 31. Although he still has "significant concerns" about the company's asset quality and 22% sequential decline in book value per share, he thinks risks, such as to its debt covenant, are now reflected in the stock price.
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