BMO Capital analyst James Fotheringham raised the firm’s price target on Credit Acceptance (CACC) to $380 from $360 but keeps a Market Perform rating on the shares after its Q4 earnings beat. The company’s slower loan growth benefits reduced credit provisions but the growth rate was also relatively muted, and the potential impacts from the CFPB and NYAG lawsuit "remain an unknown", the analyst tells investors in a research note. The firm adds that it prefers Ally Financial (ALLY) to Credit Acceptance on valuation.
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Published first on TheFly
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