Oportun Financial assumed with a Buy at BTIG

BTIG analyst Lance Jessurun assumed coverage of Oportun Financial with a Buy rating and $7 price target. The mission-based lender has made strategic acquisitions and strong partnerships to develop “a well-utilized omni-channel platform,” but shares have been heavily beaten down as credit at the subprime levels has performed markedly worse than near-prime and prime cohorts, the analyst tells investors. With a tighter credit book and an economic recovery, Oportun results should follow, and the firm expects shares to normalize to historical valuations despite what it sees being “a bumpy road in the near term.”