UPDATE: J.P. Morgan Lowers PT on First Cash Financial on Acquisition & 2Q13 Preview

In a report published on Friday, J.P. Morgan analyst Nur Cristiani lowered the price target on

from $58 to $54 and maintained a Neutral rating. In the report, J.P. Morgan stated, "We are revising down our estimates for 2Q13 and onwards for First Cash, slightly above the company's new lower earnings guidance range. We include the recently announced 19-store acquisition from Value+Pawn. The transaction is positive and should be accretive by c. 8% once they finalize the integration." First Cash Financial closed on Friday at $50.94.