UPDATE: Jefferies Lowers PT on DFC Global Following 4Q'13 Results
In a report published Friday, Jefferies analyst Daniel Furtado reiterated a Hold rating on DFC Global Corp. (NASDAQ: DLLR), but lowered the price target from $13.00 to $11.00.
In the report, Jefferies noted, “Results and management commentary indicate that headwinds faced in DLLR's UK businesses are much greater than the Market was anticipating. Forward guidance was suspended, originations are expected to fall, and credit costs are likely to rise as DLLR adjusts its business to the UK regulatory regime. With a substantial amount of uncertainty surrounding forward earnings and an uncertain timeline for the UK turnaround, we remain Hold rated on the name.”
DFC Global Corp. closed on Thursday at $15.90.
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