With a focus on improving credit performance and expense discipline, we see an extended runway for earnings growth as OPRT returns to loan origination growth. Our newly introduced 2027 estimates reflect loan originations growth and expense discipline driving operating leverage. We forecast EPS of $1.59 in 2027, up from an estimated $1.28 in 2026. Amid credit tightening actions and higher expected 30-day delinquencies, OPRT says it expects the small uptick in the net charge-off rate to be temporary while earnings are buffered by expense management. OPRT outperformed our estimates and company guidance in 3Q:25 on improved credit performance and cost reductions. The company turned out another quarter of GAAP profitability equal to $0.11 per share. OPRT increased its 2025 adjusted EPS guidance to $1.30-$1.40 (from $1.20-$1.40; we estimate an adjusted $1.36) following strong 3Q:25 results. OPRT has improved its balance sheet by expanding warehouse capacity and reducing leverage to 7.1x at 3Q:25 from 7.3x in the prior quarter. We maintain our $10 price target, as we shift our base valuation year to 2027. Our price target is based on a 7x (from 8x) applied multiple to our newly introduced 2027 EPS estimate of $1.59 (was our former $1.27 2026 estimate). Our moderate risk rating reflects the economic sensitivity of OPRT's borrowing cohort and its credit products.