FirstCash initiated with a Buy at Texas Capital

Texas Capital initiated coverage of FirstCash (FCFS) with a Buy rating and $160 price target FirstCash is the largest operator of pawn stores in the U.S. and Latin America, the analyst tells investors in a research note. The firm views the company’s core business as “resilient” and essential and believes current valuation levels offer an attractive entry point for medium- and long-term investors. Texas Capital believes FirstCash is positioned for growth in the stressed consumer environment.