Canaccord analyst Brian McNamara raised the firm’s price target on Ezcorp (EZPW) to $24 from $22 and keeps a Buy rating on the shares. The firm noted they announced a private offering of $300m of Senior Notes due in 2032. The company intends to use a portion of the net proceeds from the offering to repay $103.4m in outstanding debt and the remainder for general corporate purposes. Canaccord said the company continues to be their top coverage stock in terms of incoming client calls, likely as it’s held up very well in the current market malaise and considered counter cyclical.
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