Missteps in new businesses may have hurt Beneficial Corp.'s reputation in the past. But Natwest Securities analyst John Heffern, saying he believes the consumer lender is poised to bounce back, and has initiated coverage with an "accumulate" rating.

The mistakes of the past two years have tarnished the 67-year-old Wilmington, Del.-based company, which has catered to less-creditworthy borrowers through a nationwide franchise of more than 1,100 branches.

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