Atlanticus price target raised to $45 from $39 at JMP Securities

JMP Securities raised the firm’s price target on Atlanticus (ATLC) to $45 from $39 and keeps an Outperform rating on the shares. The firm saw generally strong performance during Q3 among its Consumer Finance and Consumer FinTech stocks as most names have participated in the broader rally within the financial services sector, the analyst tells investors in a research note. Atlanticus, notwithstanding its strong outperformance during Q3, remains a compelling small cap, as it is materially progressing in implementing mitigating actions against new late fee rules, is seeing stability from its customers that further validates our growth outlook, and the new Synchrony (SYF) partnership should materially accelerate account growth over time, the firm says.