OneMain initiated with Outperform, named a top pick at TD Cowen

TD Cowen initiated coverage of OneMain Holdings with an Outperform rating and $43 price target. The analyst named OneMain a top pick in consumer finance. OneMain has the best aspects of an extensive branch network and leading online capabilities to drive profitable growth, even in a severe downturn, the analyst tells investors in a research note. The firm says the company’s return on equity is in excess of 20%, which should allow it to consistently return capital and protect tangible book through cycles.