Jefferies & Company Inc. Lowers Price Target For Advance America (AEA)

Analyst Richard Shane, Jr. at Jefferies & Company Inc. has released an update on Advance America (NYSE: AEA). The company reported its first-quarter results on Thursday.

Advance America reported first-quarter EPS of $0.22, which was above Jefferies’ estimate of $0.20 but below consensus estimate of $0.23. Following the first-quarter results, the brokerage firm has lowered its price target for the company from $6 to $5.

Jefferies has maintained its Hold rating for Advance America, despite a solid first-quarter. The brokerage firm believes that Advance America stock will continue to trade at a discount to peers due to concentrated product and regulatory risk.