Andrew Left'sCitron Researchreversed course onCredit Acceptance Corporation(NASDAQ:CACC) Wednesday.
The short-seller-turned-bull issued a new report titled "Citron Re-Examines $CACC: Skeptics No More. Bull Case Won."
Citron set a $714 fair value, implying roughly 44% upside from current levels.
This marks Citron's first-ever positive call on the subprime auto lender.
From Bear to Bull: What Changed at Citron
Citron had long flagged CACC's regulatory exposure as a serious threat. The firm now says it got the headline right but the business completely wrong.
"We were among those who believed the regulatory...
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