BUZZ-Australia's Credit Corp rises after Macquarie raises PT

Reuters03-06

** Shares of Credit Corp Group rise as much as 1.5% to A$19.23 after Macquarie raised co's price target on U.S. market commentary from peers

** Brokerage raise PT by 8.4% to A$18.32, retains "neutral" rating for the Australian consumer lending firm

** Within the U.S., PRA Group sees a relatively stable collections environment and no significant impact from customer segments that may be experiencing stress - Macquarie

** Brokerage says Encore Capital Group is observing a more normal, stable environment in the U.S. that is similar to the pre-pandemic years

** Improved U.S. purchased debt ledger segment collections, following the recent impairment and consumer lending growth is set to drive CCP earnings - brokerage

** CCP stock up ~17% YTD, as of last close

(Reporting by Ayushman Ojha in Bengaluru)

((Ayushman.ojha@thomsonreuters.com;))

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