Atlanticus price target raised to $90 from $70 at B. Riley

B. Riley raised the firm’s price target on Atlanticus (ATLC) to $90 from $70 and keeps a Buy rating on the shares. The company’s acquisition of Mercury Financial more than doubles its receivables, the analyst tells investors in a research note. The firm also remains constructive on the credit outlook for Atlanticus’ near and lower prime consumers, citing recent delinquency trend improvement and a continued favorable outlook for this cohort heading into the back-to-school and holiday seasons.