Wedbush Starts First Cash Financial (FCFS) at Outperform
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Wedbush initiates coverage on First Cash Financial (NYSE: FCFS) with a Outperform rating and a price target of $58.00.
Analyst Henry Coffey Jr. commented, "We are initiating coverage of First Cash Financial Services (FCFS) with an OUTPERFORM rating and a $58 price target. Our price target and rating reflect the expectation that management will be successful at realizing expected corporate synergies from integrating the acquired Cash America (CSH) stores over the next 2 years, continue to grow and expand in Latin America, and over the longer run, revitalize the profitability and same-store sales rate of its US stores. The company is expected to begin buying back shares after it releases September quarter results in October."
Shares of First Cash Financial closed at $48.30 yesterday.
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