JMP Securities analyst David Scharf raised the firm’s price target on Atlanticus (ATLC) to $75 from $54 and keeps an Outperform rating on the shares following the recent expansion of its partnership with Synchrony (SYF). The firm’s checks indicate Atlanticus’s Fortiva retail card has recently been added as a financing option at Lowe’s (LOW), a top three retail partner of Synchrony, in addition to Mattress Firm, another significant partner with large ticket items, and these early successes with two of Synchrony’s significant partners bode well for the runway of retailers that could potentially integrate with Fortiva over the next year, the analyst tells investors in a research note.
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Read More on ATLC:
- Atlanticus management to meet with BTIG
- Atlanticus price target raised to $70 from $50 at B. Riley
- Atlanticus price target raised to $54 from $45 at JMP Securities
- Atlanticus initiated with an Overweight at Stephens
- Atlanticus price target raised to $54 from $45 at BTIG
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
