Wedbush Starts OneMain (OMF) at Outperform
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Wedbush initiates coverage on OneMain (NYSE: OMF) with a Outperform rating and a price target of $45.00.
Analyst Henry Coffey Jr. commented, "We are initiating coverage of OneMain Holding, Inc. with a $45 price target and an OUTPERFORM rating. OMF is an installment lender focused on the near prime and subprime market. It grew to its current size following the acquisition of Citigroup’s branch-based installment lender last November. Our price target and rating are based on the view that revitalizing the growth rates of the acquired branches (legacy OneMain) combined with expected cost savings tied from merging the two platforms (legacy OneMain, legacy Springleaf), will create a multi-year cycle of favorable earnings growth and positive capital formation. "
Shares of OneMain closed at $30.79 yesterday.
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