UPDATE: Sterne Agee Upgrades Cash America International to Neutral, Raises PT Following D.C. Regulatory Environment Checks

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In a report published Wednesday, Sterne Agee analyst Henry J. Coffey Jr. upgraded the rating on

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Cash America International

(NYSE: CSH) from Underperform to Neutral, and raised the price target from $38.00 to $40.00.In the report, Sterne Agee noted, “Our checks into the D.C. regulatory environment suggest to us that the relevant bodies are likely to move slower, not faster, in their review of on-line pay day lending and that the prospects of a major bank shutting the ACH door to a compliant lender anytime this year are less than we previously expected. We are raising our rating on CSH from Underperform to Neutral and raising our price target from $38 to $40.”Cash America International closed on Tuesday at $45.64.