Jefferies Resumes First Cash Financial (FCFS) at Hold
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Jefferies resumes coverage on First Cash Financial (NASDAQ: FCFS) with a Hold rating and a price target of $60.00.
Analyst John Hecht commented, "We are resuming coverage of the combined entity with a Buy rating and $60 price target. The merger affords numerous financial and strategic benefits, including broader sources of cash flows which serve to both improve organic growth opportunities as well as the capital return profile. Further, we see 30% + accretion from cost synergies, with further upside should revenue synergies come to fruition over time."
Shares of First Cash Financial closed at $50.32 yesterday.
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