UPDATE: Jefferies Starts First Cash Financial (FCFS) at Hold

(Updated - September 5, 2014 6:43 AM EDT)

Jefferies initiates coverage on First Cash Financial (NASDAQ: FCFS) with a Hold rating and a price target of $56.00.

Analyst John Hecht states, "First Cash Financial exhibits more stable and higher growth rates compared to peers due to the combination of its Mexican segment and its domestic acquisition strategy. Domestic trends appear to be bottoming out and Mexico should see increased growth in 2H14, although we believe these expectations are built-in to the stock. Considering this, and FCFS' premium multiple relative to its own historical averages and peers, we initiate with a Hold."

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 $56.89 yesterday.

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