Nomura Securities Upgrades DFC Global (DLLR) to Buy; Valuation Compelling - Discounted at Current Levels

Nomura Securities upgraded DFC Global (NASDAQ: DLLR) from Neutral to Buy, price target lowered $1 to $20.

Analyst, Bill Carcache, said, "DLLR shares have underperformed recently owing to (i) regulatory concerns out of the U.K., (ii) anticipated equity dilution associated with Tuesday’s convertible debt offering, and (iii) technical pressure tied to convertible debt investors shorting the stock to hedge their exposure. With shares trading at an attractive 7.7x / 6.5x our revised 2013 GAAP / core EPS estimates, we think the selling pressure is overdone and view DLLR’s risk/reward profile (-10%/+41%) as compelling—we would be buyers of DLLR shares at current levels. Our 2013E GAAP EPS goes from $2.31 to $2.15 (based on share dilution)."

For an analyst ratings summary and ratings history on DFC Global click here. For more ratings news on DFC Global click here.

Shares of DFC Global closed at $16.63 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Nomura/Instinet Upgrades Genting Singapore (GENS:SP) (GIGNY) to Neutral
• Diversified Royalty Corp (DIV:CN) (BEVFF) PT Lowered to Cdn$4.75 at Desjardins
• Va Tech Wabag Ltd. (VATW:IN) PT Raised to INR2,410 at ICICI Securities