OneMain price target lowered to $49 from $53 at Wells Fargo

Wells Fargo analyst Michael Kaye lowered the firm’s price target on OneMain to $49 from $53 and keeps an Equal Weight rating on the shares. The firm is reducing its Q3 EPS to $1.19 as well as its forward EPS. Wells now projects that net loss rates will stay “higher for longer” given low-end consumer struggles and other factors.