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Credit Acceptance price target lowered to $400 from $440 at TD Cowen

Credit Acceptance price target lowered to $400 from $440 at TD Cowen

TD Cowen lowered the firm’s price target on Credit Acceptance to $400 from $440 and keeps a Sell rating on the shares. The firm said while adjusted earnings were better than forecast, this was driven by faster growth, but the lower expected cash flows will drive lower adjusted earnings in H2 and forward.

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