Nomura Securities Assumes Coverage on Dollar Financial (DLLR) at Neutral; A Lot to Like, More to Look Forward to...

Nomura Securities assumes coverage on Dollar Financial (NASDAQ: DLLR) with a Neutral. PT $21.00.

Analyst, Bill Carcache, said, "We like the company’s asset mix, rollup plus de novo strategy, credit-related outperformance, and financially astute management team. That said, the company’s rollup investment strategy and international expansion program are leading to relatively low ROEs as those investments make their way to the bottom line. Our FY’12 and FY’13 EPS ests are $2.60 and $2.89, respectively. Our px tgt is derived using a sum-of-the-parts methodology, applying a blended multiple of 9.3x to our base case 2013 GAAP EPS estimate of $2.31 vs. peer group of 10.2x NTM earnings."

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

Shares of Dollar Financial closed at $18.10 yesterday.

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