Jefferies Prefers First Cash Financial (FCFS) in Pawn Industry, Lifts PT

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Jefferies raised its price target on Buy-rated First Cash Financial (NASDAQ: FCFS) from $48 to $56.

The firm comments, "Pawn industry asset and revenue growth continues to be driven primarily in Mexico with the US returning to a more normalized growth environment. Growth in online payday lending continues to outpace brick and mortar based lending, with an evolving regulatory environment that should be a long term positive for the more established players in the market. We continue to prefer FCFS and increase our PT to $56 from $48."

The firm raised FY12 EPS from $2.70 to $2.72.

For an analyst ratings summary and ratings history on First Cash Financial click here. For more ratings news on First Cash Financial click here.

Shares of First Cash Financial closed at $48.58 yesterday, with a 52 week range of $33.27-$49.14.

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