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Piper Jaffray maintains its Overweight rating and $31 target price on Encore Capital
ECPG as the company reaches final resolution with Texas AG.
Piper Jaffray notes, "On its September quarter conference call, ECPG noted it reached an agreement in principal which included a $0.02 per share financial penalty. The final resolution was in-line with the previously announced financial impact. We are under the impression that ECPG is making progress with multiple state AGs, however 2012 may be an interesting year from a regulatory perspective.
ECPG closed at $20.98 per share on Wednesday.
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