UPDATE: Jefferies Downgrades Cash America International to Hold on CPA Guidance Fallout
Jefferies reduced its rating on Cash America International (NYSE: CSH) from Buy to Hold and reduced its price target from $45 to $40.
Jefferies said, "With an estimated 30% of origination volume and 15% of revenues tied to their UK payday product we believe CSH will likely face fall-out from the potential shift in CPA guidance. Further with continued distraction from underperforming Mexican pawn operations, tough comps in US pawn balance growth, and looming regulatory headline risk from Texas and CFPB in 2013, we are moving the shares to hold."
Cash America International closed at $40.29 on Monday.
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