BofA analyst Mihir Bhatia initiated coverage of OneMain Holdings with a Buy rating and $49 price target. The company primarily makes personal loans to subprime borrowers and is “the rare subprime lender that has prepared for the prospect of an economic downturn,” the analyst tells investors. Prudent underwriting is among OneMain’s key strength and its fixed funding costs should mitigate rising rate pressure, the firm contends.
Published first on TheFly
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