Market Overview

UPDATE: Compass Point Initiates Coverage On Credit Acceptance

Share:
Related CACC
Top Performing Industries For July 30, 2015
Credit Acceptance Announces Extension of Revolving Secured Warehouse Facility

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

DateFirmActionFromTo
Aug 2015JMP SecuritiesUpgradesMarket UnderperformMarket Perform
Jul 2015JMP SecuritiesMaintainsMarket Underperform
Jul 2015Janney CapitalInitiates Coverage onSell

View More Analyst Ratings for CACC
View the Latest Analyst Ratings

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

 

Related Articles (CACC)

View Comments and Join the Discussion!

Get Benzinga's Newsletters