Credit Corp PDL supply improvement may take longer; Jefferies cuts PT

Credit

03/11/2022 18:14

** Analysts at Jefferies cut PT to A$24.54 from A$29.08 for
credit management services provider Credit Corp  CCP.AX ,
maintains "buy" rating 
    ** Say U.S. revolving debt continues to rise and there are
signs of a rebuild in Australian credit card indebtedness
    ** However, this will take time to translate into
delinquencies and charge-offs - Jefferies
    ** Notes improvement in both U.S. and Australia purchased
debt ledgers (PDL) supply may take longer than originally
expected
    ** Five of seven analysts rate the stock "buy" or higher,
two "hold"; their median PT is A$24.45 – Refinitiv data
    ** Stock down ~44.3% this year, as of last close
 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))