UPDATE: Sterne Agee Upgrades EZCORP to Buy, Raises PT on Multiple Positive Factors

In a report published Wednesday, Sterne Agee analyst Henry J. Coffey Jr. upgraded the rating on EZCORP EZPW from Neutral to Buy, and raised the price target from $18.00 to $23.00. In the report, Sterne Agee noted, “We are upgrading EZPW from NEUTRAL to BUY and raising our price target from $18 to $23. This rating increase is driven by three items: 1) the limited impact that falling gold prices are likely to have on earnings at this point, 2) a combination of positive valuation and sentiment factors, and 3) the limited and outside chance the board may authorize a share buyback.” EZCORP closed on Tuesday at $17.42.