OneMain price target lowered to $70 from $73 at RBC Capital

RBC Capital lowered the firm’s price target on OneMain (OMF) to $70 from $73 and keeps an Outperform rating on the shares after its Q1 results. Consumer loan credit performance was better than pre-pandemic patterns in Q1, though net charge-offs were higher than expected, the analyst tells investors in a research note. RBC adds however that it continues to favor OneMain’s durable business model, capital generation potential, and strong liquidity position.