Pawn Broker EZCORP (EZPW) Gains New 'Outperform' Rating at Oppenheimer, Suggesting 78% Upside
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Oppenheimer initiated coverage on EZCORP, Inc. (NASDAQ: EZPW), a leading operator of pawn shops in the US and Mexico and across select countries in Latin America, with an Outperform rating and $12 price target.
Upon their initial studies, Brian Nagel and Andrew Chasanoff from Oppenheimer concluded that investors are likely underappreciating meaningfully intermediate to longer-term earnings and cash prospects for the company’s business model.
The analysts highlighted several key characteristics of the company, which makes it a successful small-cap consumer investment story:
(1) Meaningful market share opportunity within a large and fragmented sector
(2) new senior leadership working to develop an improved strategy and to strengthen corporate controls
(3) solid cash position and balance sheet
(4) building external tailwinds enabling the company to better leverage recent internal efforts
(5) depressed equity valuation.
The $12 price target offers 78% upside from Wednesday's closing price of $6.75.
The shares of the company were trading around 2% higher after-hours on Wednesday following the bullish rating.
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