Encore Capital price target raised to $60 from $56 at JMP Securities

JMP Securities raised the firm’s price target on Encore Capital to $60 from $56 and keeps an Outperform rating on the shares. Encore’s Q4 results were in-line to slightly better than forecasts, and the company’s initial guidance for 2024 were similar to or slightly better than expectations, the analyst tells investors in a research note. Aside from the recurring accounting “noise,” the firm maintains constructive investment call on the debt buying and collections sector.