Citizens JMP analyst David Scharf lowered the firm’s price target on OneMain (OMF) to $63 from $65 and keeps an Outperform rating on the shares. The firm saw a dramatic shift in investor sentiment beginning in mid-September, and while the firm is not anticipating commentary over the next few weeks that represents a material shift in outlook, Citizens believes that consumer finance companies that exited Q2 over-reserved will be more cautious in their willingness to suggest year-end reserve releases, the analyst tells investors in a research note.
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