Moshe Orenbuch, an analyst from TD Cowen, maintained the Buy rating on OneMain Holdings. The associated price target was raised to $69.00.
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Moshe Orenbuch has given his Buy rating due to a combination of factors that highlight OneMain Holdings’ strong financial performance and positive outlook. The company’s recent earnings per share exceeded both his and the consensus estimates, primarily due to higher-than-expected revenue driven by improved loan yields. Additionally, lower losses contributed to a better-than-anticipated provision, which offset higher operational and insurance expenses.
Management’s optimistic guidance for 2025, particularly regarding revenue and loss rates, further supports the positive sentiment. The company’s credit trends are improving, which is crucial given past concerns about loss trajectories. Despite high losses in the credit card segment, expected improvements and management’s confidence in the product’s long-term return profile bolster the Buy recommendation. Consequently, the price target has been adjusted to $69, reflecting these positive developments.
In another report released on July 11, J.P. Morgan also maintained a Buy rating on the stock with a $63.00 price target.