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UPDATE: Jefferies Downgrades First Cash Financial Services to Hold on Limited Upside

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

Jefferies downgraded First Cash Financial Services (NASDAQ: FCFS) from Buy to Hold and maintained a $56.00 price target.

Jefferies noted, "Since our 1/5/12 upgrade, FCFS has rallied from 13x fwd earnings to trade at ~16.4x cons. FY'13 ests. of $3.24. We are downgrading the shares at $53 as we see limited upside to our $56PT. In order to remain Buy rated we would have to assign a near peak valuation multiple of 19x, something we are uncomfortable with in the current environment."

First Cash Financial Services closed at $53.41 on Tuesday.

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: JefferiesAnalyst Color Downgrades Analyst Ratings

 

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