Credit Acceptance Corp. (CACC) PT Lowered to $420 at TD Cowen

TD Cowen analyst Moshe Orenbuch lowered the price target on Credit Acceptance Corp. (NASDAQ: CACC) to $420.00 (from $465.00) while maintaining a Sell rating.

The analyst commented, "CACC reported Q1 diluted GAAP EPS of 5.08 vs our est 6.99 and FS cons of 7.38.The miss on GAAP EPS was driven by higher provision (- 1.71 impact). higher interest expense (- 0.38) higher opex (- 0.33) partially offset by higher revenue ( 0.61) Adj diluted EPS was 9.28 vs our est of 9.07 and FS cons of 9.13 "

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