ATLC - Jefferies initiates Atlanticus at Buy as stock presents attractive entry point

2023-06-16 10:30:47 ET

• Jefferies on Friday initiated coverage of Atlanticus ( NASDAQ: ATLC ) with a Buy rating as the stock presents an attractive entry point given valuation relative to peers, stable funding and improving credit.
• "ATLC has superior growth opportunities on multiple fronts, a solid pipeline, deep operating knowledge, and a scalable tech platform," said analyst John Hecht.
• "We believe ATLC's funding profile and management's experience navigating several credit cycles over decades positions it well for a variety of macro environments."
• Hecht said Atlanticus ( ATLC ) appears undervalued given its growth outlook, capital efficiency, and diversified revenue streams.
• Price target set at $50, implying 16.4% potential upside to ATLC's last close.
• Note that SA Quant rates ATLC Hold .
• Earlier, Atlanticus ( ATLC ) reported Q1 earnings .

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