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JMP's David Scharf reiterated Enova International ENVA at Market Outperform with a $9.50 price target. The reiteration came after JMP hosted Enova's CEO David Fisher at several investor meetings in New York City.
"We feel there is a meaningful long-term opportunity in Brazil not yet fully appreciated in the estimates," said Scharf.
Additional observations from Scharf after meeting management:
- The U.K. business is still very in the early stages, leaving room for more performance on the company's rebound in the region.
- The U.S. business "is positioned to manage through regulatory reform with particular upside likely [from] market share gains from brick and mortar stores"
- Resilient credit performance across Enova's U.S. borrower base
At time of writing, Enova International traded at $7.38, up 4.98 percent.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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