OneMain downgraded to Equal Weight from Overweight at Barclays

Barclays analyst Terry Ma downgraded OneMain to Equal Weight from Overweight with a price target of $46, down from $52, as part of a Q3 earnings preview for the consumer finance sector. The firm thinks positive delinquency trends in the second half of 2024 should continue for the prime card issuers. It is more mixed for non-prime lenders and Barclays now expects more limited credit improvement in fiscal 2025, the analyst tells investors in a research note. As a result, it lowered estimates and downgraded OneMain.