CREDIT CORP GROUP LIMITED (CCP)
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08/05/2026

1

Buy

$19.15

50.91%

Credit Corp has upgraded FY26 consumer lending guidance to $420-430m while the lower end of the FY26 ledger investment guidance was raised slightly.

Morgans observes both PDL businesses showed stronger momentum than the first half trajectory implied, with US collections up 27% and Australasian collections up 34%.

Sustained momentum alongside conversion of the US scale-up is key to a re-rating in the broker's opinion and a Buy rating is maintained. Target is reduced to $19.15 from $19.35.

FORECAST
Morgans forecasts a full year FY26 dividend of 75.00 cents and EPS of 148.00 cents.
Morgans forecasts a full year FY27 dividend of 88.00 cents and EPS of 173.00 cents.

16/06/2026

1

Buy

$19.70

55.24%

Canaccord Genuity retains a Buy rating for Credit Corp with a $19.70 target price, viewing the stock as undervalued at a historically high discount to ASX peers and under 8x FY26 NPAT, with US debt buying returns improving, the Australian lending book continuing to surprise to the upside, and AU debt buying conditions showing signs of a turn.

FY26 NPAT is estimated to land just below the midpoint of $100m-$110m guidance, with FY27 forecast at approximately 10% growth driven by AU lending and US debt buying operating leverage.

The analyst estimates an EPS CAGR of 12% between FY24 and FY27, with dividends contributing a further 5%-6% per annum to total returns.

Commentary identifies potential re-rating catalysts, including clarity on the non-binding indicative proposal for Humm Group (HUM), achievement of FY26 earnings guidance, and capital management updates including upsizing of credit facilities.

Minor forecast adjustments have been made, largely reflecting changes in collection assumptions.