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UPDATE: Compass Point Initiates Coverage On Credit Acceptance

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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
Jul 2016Credit SuisseDowngradesNeutralUnderperform
Jun 2016Janney CapitalUpgradesNeutral
Mar 2016JMP SecuritiesDowngradesMarket PerformMarket Underperform

View More Analyst Ratings for CACC
View the Latest Analyst Ratings

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

 

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