World Acceptance price target raised to $59 from $47 at BMO Capital

BMO Capital raised the firm’s price target on World Acceptance to $59 from $47 but keeps an Underperform rating on the shares. The company reported improving credit, rising yields, and fast growth in new loan originations, but these trends are not likely to be sustained, the analyst tells investors in a research note. As World Acceptance “very consciously increases approval rates to new customers”, credit costs will also rise, BMO added.