UPDATE: Sterne Agee Downgrades Cash America International to Neutral
A report from Sterne Agee downgrades its rating to Neutral and reiterates its $53 price target on Cash America International (NYSE: CSH).
The report states, “On Thursday, following hearings first initiated on October 18th, the Back Bench Business Committee held further hearings on the debt collections and debt management… While arguably we do not know where this debate will lead, we are of the view that during the course of 2012 this debate is more likely to expand and could lead to legislation that focuses on the businesses practices (not fees) of UK based consumer lenders and pay day loan companies.”
CSH closed yesterday at $49.94.
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