Piper Jaffray Reiterates Overweight, $31 Target on Encore Capital - Encore Capital Gr (NASDAQ:ECPG)

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Piper Jaffray maintains its Overweight rating and $31 target price on Encore Capital (NASDAQ: 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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