Market Overview

UPDATE: Sterne Agee Upgrades First Cash Financial Services to Buy; Past Concerns No Longer Apply

Related FCFS
Earnings Scheduled For October 16, 2014
First Cash Acquires 47 Pawn Stores In Mexico And Nine U.S. Pawn Stores In Colorado And Texas

Sterne Agee raised its rating on First Cash Financial Services (NASDAQ: FCFS) from Neutral to Buy and increased its price target from $40 to $50.

Sterne Agee noted, "Through acquisitions and new store openings, the company has increased its store count by 19% during the first nine months of this year to 810 (66% in Mexico/34% US) and laid the groundwork for a successful 2013. The company has reversed the decline in pawn loan balances in its Mexican border stores (+15% in 3Q12) and lessened its dependence on scrapping (down to 10% of net revenue in 3Q12). Integrating/fine-tuning acquired stores (44 in the US, 29 in Mexico) and harvesting the growth of new stores (66) opened during 2012 should result in 2013 being a year of 18%+ EPS growth."

First Cash Financial Services closed at $41.82 on Wednesday.

Latest Ratings for FCFS

DateFirmActionFromTo
Sep 2014JefferiesInitiates Coverage onHold
Jul 2014FBR CapitalMaintainsMarket Perform
Apr 2014HSBCInitiates Coverage onOverweight

View More Analyst Ratings for FCFS
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (FCFS)

Around the Web, We're Loving...

Get Benzinga's Newsletters