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UPDATE: Compass Point Initiates Coverage On Credit Acceptance

Related CACC
Credit Acceptance Announces Extension of Revolving Secured Warehouse Facility
Earnings Scheduled For October 29, 2014

In a research note released Tuesday, Compass Point analyst Jason Stewart initiated coverage on Credit Acceptance (NASDAQ: CACC) with a Sell rating and $104.00 price target.

Stewart called out multiple reasons for the initiation, such as heightened regulatory risks, an increasingly competitive environment and lower relative credit standards. The company has the lowest credit acceptance standards out of all of the auto finance companies. Additionally, credit pressures are increasing and loan loss allowance is declining.

Shares of Credit Acceptance are down 3.39 percent Tuesday.

Latest Ratings for CACC

Apr 2015JefferiesMaintainsHold
Apr 2015JMP SecuritiesMaintainsMarket Underperform
Apr 2015JefferiesMaintainsHold

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Posted-In: Compass Point Jason StewartAnalyst Color Price Target Initiation Analyst Ratings


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