UPDATE: Sterne Agee Downgrades Cash America International to Neutral, Raises PT to $55 on Regulatory Catalyst

Sterne Agee downgraded Cash America International

from Buy to Neutral and raises the price target from $53.00 to $55.00. Sterne Agee analyst Henry J. Coffey, Jr. noted, "The most likely to pass Texas pay day bill is out and it looks arguably neutral to the group. We are increasing our price target on CSH from $53 to $55. CSH is up 33% year to date and the shares are trading within 4% of our new target. Reflecting this we are changing our rating from BUY to NEUTRAL. … Given the likelihood that the proposed bills will pass close to their current forms and a higher sense of likely outcomes in Texas, we are increasing our price target from $53 to $55." Cash America International closed at $52.40 on Tuesday.