Provident Financial backtracks on home credit strategy as it launches recovery plan

Cornelia Mascio
Ottobre 13, 2017

In a statement issued on 10/13/2017 Peel Hunt hold steady the price target of Provident Financial PLC (LON:PFG) from 870.00GBX to 870.00GBX stating a potential upside of 0.08%. The stock's 50 day moving average price is GBX 813.42 and its 200 day moving average price is GBX 2,233.15. The analysts argue that there is no reason for the recent stock recovery. Finally, Liberum Capital downgraded shares of Provident Financial plc to a "sell" rating and set a GBX 2,770 ($35.58) target price on the stock.in a research report on Wednesday, May 10th. Barclays PLC lowered shares of Provident Financial plc to an "underweight" rating and set a GBX 584 ($7.68) price objective on the stock.in a report on Wednesday. Jefferies Group LLC boosted their target price on shares of Provident Financial plc from GBX 3,732 ($47.94) to GBX 3,845 ($49.39) and gave the company a "buy" rating in a research report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company's stock. The analysts explained that while Provident's share price was down 68 percent in the year-to-date, falling 66 percent on the day of the second profit warning on August 22, it had nevertheless recovered by 42 percent from the trough, despite no new guidance on the consumer credit division or resolution of the Financial Conduct Authority's investigation into its Vanquis unit. Provident Financial plc has a 12-month low of GBX 426.60 and a 12-month high of GBX 3,284.00. If you are viewing this piece on another site, it was stolen and republished in violation of US & worldwide copyright & trademark legislation.

Provident Financial plc is a United Kingdom-based non-standard lender.

Provident said its Vanquis Bank division has delivered good growth through the third quarter against tightening credit standards. The Company serves non-standard credit customers with a range of products from credit cards and vehicle finance, to home credit and online unsecured, and guarantor loans.

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