OneMain initiated, added to ‘Tactical Underperform’ list at Evercore ISI

Evercore ISI initiated coverage of OneMain (OMF) with an In Line rating and $58 price target and added the stock to the firm’s “Tactical Underperform” list. OneMain is “on a path of improvement after several years of elevated losses,” but the road ahead is not without risk given the sensitivity of OneMain’s lower income customers to economic stress, the analyst tells investors. The firm sees downside to consensus adjusted EPS estimates based on a slower than expected pace of credit improvement, the analyst added.