0031 GMT - Credit Corp keeps its bull at Morgans after what analyst Scott Murdoch calls a solid start to its fiscal year. Murdoch calls attention to the Australian credit purchaser's observation of operational improvements in the U.S. and 10% on quarter growth in 1Q Australian cash collections. He tells clients in a note that execution on strategy in the U.S. is now needed if Credit Corp is to deliver medium-term growth. He expects U.S. cash collections to show ongoing improvement into the June half. Morgans lifts its target price 0.7% to A$20.65 and keeps an add rating on the stock, which is down 0.1% at A$17.23. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
October 29, 2024 20:31 ET (00:31 GMT)
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