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UPDATE: Sterne Agee Downgrades First Cash Financial Services to Neutral on Valuation

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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
Multiple Headwinds Sapping First Cash Financial's Momentum (Seeking Alpha)

Sterne Agee downgraded First Cash Financial Services (NASDAQ: FCFS) from Buy to Neutral and announced a $58.00 price target.

Sterne Agee analyst Henry J. Coffey, Jr. wrote, "The Texas legislature is looking at a pay day/title pawn bill that looks like a very workable compromise. The shares of FCFS are up 4% this month and within 5% of our price target; we are changing our rating from BUY to NEUTRAL. […] The impact of the bills is arguably neutral; they place limitations on renewals and loan amounts, restrict borrowers to one loan at a time in the state and remove the ability of individual cities to regulate pay day loan rates, fees, terms, etc."

First Cash Financial Services closed at $55.13 on Tuesday.

Latest Ratings for FCFS

DateFirmActionFromTo
Jan 2015Janney CapitalDowngradesBuyNeutral
Jan 2015JMP SecuritiesMaintainsMarket Outperform
Jan 2015JP MorganMaintainsOverweight

View More Analyst Ratings for FCFS
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Downgrades Analyst Ratings

 

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