Ezcorp initiated with a Buy at Texas Capital

Texas Capital initiated coverage of Ezcorp (EZPW) with a Buy rating and $20 price target The company has demonstrated solid execution and offers “countercyclical appeal” in a challenged consumer environment, the analyst tells investors in a research note. The firm believes Ezcorp has made improvements to its business model, including improved inventory management, loan analysis, online bill payments. It sees an attractive valuation at current share levels.