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In a research note released Tuesday, Compass Point analyst Jason Stewart Initiated coverage on Credit Acceptance Corp
CACC with a Sell rating and a price target of $104.0.
The analyst called out multiple reasons for the initiation of the Sell rating 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 the company are down two percent on Tuesday.
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