OneMain price target raised to $62 from $60 at JMP Securities

JMP Securities raised the firm’s price target on OneMain (OMF) to $62 from $60 and keeps an Outperform rating on the shares. Credit dynamics are showing signs of improvement even with the updated outlook as the portfolio continues to rebalance, the analyst tells investors in a research note. Underwriting remains constrained, though volumes and portfolio growth were stronger than expected, and yield growth should be impacted by mix-shift over time, while recent pricing changes should “burn in” over the coming quarters, the firm says.