OneMain price target lowered to $59 from $62 at JMP Securities

JMP Securities analyst David Scharf lowered the firm’s price target on OneMain to $59 from $62 and keeps an Outperform rating on the shares. The latest securitization data support management’s guidance that credit losses have recently peaked and are set to decline meaningfully during the second half of 2024, the analyst tells investors in a research note. The competitive environment remains subdued, and JMP believes OneMain continues to be well-positioned to maintain its industry-leading market share within personal loans and grow its share of indirect auto.