OneMain price target lowered to $58 from $60 at RBC Capital

RBC Capital analyst Kenneth Lee lowered the firm’s price target on OneMain to $58 from $60 and keeps an Outperform rating on the shares ahead of its Q3 results. The firm is adjusting its model to better reflect the evolving loan book and update its expected provision for finance receivables losses, the analyst tells investors in a research note. RBC adds however that it continues to favor OneMain’s durable business model and capital generation potential.