Credit Acceptance Corp. - Investment Opinion - 'Accumulate'.GAINESVILLE, Fla.--(BUSINESS WIRE)--Oct. 10, 1997--Barber & Bronson Inc. is initiating coverage of Credit Acceptance Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CACC CACC Center for Animal Care and Control CACC Canadian Association for Community Care CACC Central Alabama Community College CACC Chilterns Association of Camera Clubs (United Kingdom) ) with a "2-Accumulate" in the short term and "2-Accumulate" for long term investors based on the company's rapid growth in the automobile financing industry. CACC is a financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company specializing in providing funding, receivables management, collection, sales training and related products and services to used automobile dealers located in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , the United Kingdom, Ireland and Canada. The company's target market is "sub prime" car buyers with limited or no access to traditional sources of consumer credit. Revenues and earnings have risen sharply (60% and 45% compounded annual growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. , respectively) since the company's 1992 public offering. This growth has been driven by the tremendous expansion of CACC's client network, which now includes over 5,000 domestic and 1,000 international car dealerships. The company has also expanded into profitable ancillary services such as credit insurance, service contracts and dealer floor plan financing, which now account for 25% of total revenue. We have a 12-18 month target price range of $18-20 on the common shares of Credit Acceptance Corp. Barber & Bronson Inc. is a full-service brokerage and investment banking firm based in Miami, with offices in Fort Lauderdale, Fla., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Hilton Head, S.C. A copy of the report will be available shortly on our web site at http://www.barberbronson.com . -0- NOTE TO EDITORS: In the World Wide Web address noted in this news release, there is a double slash between http: and www.barberbronson.com . This symbol may not appear properly in some systems. CONTACT: Barber & Bronson Inc., Gainesville Jeff Hasse 352/378-2133, 352/375-6449 - Fax |
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