Oportun Financial downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Richard Shane downgraded Oportun Financial (OPRT) to Underweight from Neutral with a price target of $6, down from $8, 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.