FirstCash initiated with a Buy at Canaccord

Canaccord initiated coverage of FirstCash (FCFS) with a Buy rating and $200 price target The firm views pawn as a “great business.” Following the recent acquisition of H&T Group, the leading operator of pawn stores in the UK, FirstCash now operates over 3,300 pawnshops across the U.S., Latin America, and the UK, the analyst tells investors in a research note. Canaccord believes the shares warrant a premium valuation given the attractiveness of the pawn industry.