JMP Securities downgraded Oportun Financial to Market Perform from Outperform without a price target. In the absence of either a sale or winddown of the loan portfolio, the business will continue to deliver net losses and underperform peers, the analyst tells investors in a research note. The firm says Oportun’s pathway to profitability is “proving more frustrating than expected.” It we views the shares as fairly valued at roughly 55% of forecasted 2024 tangible book value.
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