OneMain's Prudent Moves Amid Economic Uncertainty: Analyst Highlights Strong Forecast For FY23
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst James Fotheringham reiterated a Market Perform rating for OneMain Holdings, Inc. (NYSE:OMF) with a price target of $46. Despite macroeconomic uncertainties, Fotheringham is impressed by OMF's prudent management of credit and funding risks, improving credit, accelerating loan growth, and strong returns. The analyst forecasts a 49% RoTCE this year and expects higher quality loans to represent 65% of OMF's total portfolio by year-end.
September 26, 2023 | 8:22 pm
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OneMain Holdings, Inc. (NYSE:OMF) has been given a Market Perform rating by BMO Capital Markets analyst James Fotheringham, who is impressed by the company's prudent risk management and strong returns. The analyst forecasts a 49% RoTCE this year and expects higher quality loans to represent 65% of OMF's total portfolio by year-end.
The positive rating from BMO Capital Markets analyst James Fotheringham, along with his forecast of a 49% RoTCE this year, indicates strong performance for OneMain Holdings, Inc. (NYSE:OMF). This, coupled with the company's prudent risk management and improving credit, could potentially boost investor confidence and have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100