In a research note released Tuesday, Compass Point analyst Jason Stewart initiated coverage on Consumer Portfolio Services CPSS with a Buy rating and $10.00 price target.
Stewart said that shares of the company are trading at a “substantial discount to its peers and the market is overly discounting the company."
Since the company is smaller, it is expected to produce stronger earnings growth without loosening its lending standard.
The company has also made progress on de-leveraging and refinancing debt to improve earnings. The company has reduced its long-term debt and has refinanced high-cost debt.
Shares of Consumer Portfolio Services are down 1.02 percent on Tuesday.
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