UPDATE: Jefferies Initiates Coverage on Regional Management

According to a research report published this morning, Jefferies has initiated Regional Management

with a Buy rating and $23 PT. In the report, Jefferies mentioned, "We are initiating coverage on Regional Management with a Buy rating and a $23 price target. We believe RM is well positioned to continue its organic growth trajectory as de novo store builds continue to age, supporting growth in loan receivables and fees. Jefferies acted as a joint book-runner in the company's recent IPO." Regional Movement closed yesterday at $17.05.