Encore Capital price target lowered to $55 from $65 at Citizens JMP

Citizens JMP lowered the firm’s price target on Encore Capital (ECPG) to $55 from $65 and keeps an Outperform rating on the shares. Encore Capital ended 2024 with record collections and purchases in the fourth quarter, collections upside relative to its forecast, and a continuation of tailwinds in the U.S. market that have driven strong results all year and position the business as a cyclical winner, the analyst tells investors in a research note. Management has set the bar low enough to clear, allowing investors to focus on U.S. performance and the greater earnings visibility in 2025, the firm argues.