GMA - UBS rates the stock as Sell
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UBS observes the sequential improvement in delinquencies mirrors a trend observed through bank reporting season so far. Hence, a better September quarter for the company was not altogether surprising.
Still, UBS believes the 12-24 months investment case has not changed materially and loss ratios will deteriorate into 2018 and 2019, supporting a Sell call. $2.60 target maintained.
Target price is $2.60.Current Price is $2.85. Difference: ($0.25) - (brackets indicate current price is over target). If GMA meets the UBS target it will return approximately -10% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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