Enova International price target raised to $59 from $57 at BMO Capital

BMO Capital raised the firm’s price target on Enova International to $59 from $57 and keeps a Market Perform rating on the shares. The analyst cites the company’s cost-driven Q4 earnings beat and “constructive” FY24 guidance. Enova is growing market share in SMB lending, and prudently tightening underwriting for consumer lending, the firm tells investors in a research note, adding however that it is concerned with earnings sensitivity to fair value loan marks given its forecasts for slowing growth, rising unemployment, and consequent credit deterioration.