OneMain downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Richard Shane downgraded OneMain (OMF) to Neutral from Overweight with a price target of $57, down from $63, as part of a Q3 earnings. While the company has reduced its “problematic” 2022 vintages and introduced a new lending model that incorporates inflation, it could face incremental headwinds as balance sheets for low-income consumers deteriorate, the analyst tells investors in a research note.