Regional Management price target raised to $37 from $34 at BMO Capital

BMO Capital analyst James Fotheringham raised the firm’s price target on Regional Management to $37 from $34 and keeps a Market Perform rating on the shares. The analyst is cutting FY23 EPS view on the stock to $5.52 from $6.24 and FY24 view to $7.09 from $7.72 to reflect the higher than previously modeled loan loss provisions, funding costs, and share counts. The firm adds however that its price target increase is due to Regional Management’s higher-than-expected capital generation and capital preservation.