Canaccord raised the firm’s price target on FirstCash (FCFS) to $252 from $242 and keeps a Buy rating on the shares. The firm updated its model following Q1 results which saw reocrd sales. The firm noted that business remains robust, with the core pawn customer remaining pressured and higher-income individuals seeking value, as the loan and sales counters have been equally busy.
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Read More on FCFS:
- FirstCash: Accelerating Pawn Growth, Strong Quarter Beat, and Capital Discipline Support Buy Rating
- FirstCash reports Q1 adjusted EPS $2.69, consensus $2.39
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- First Cash Financial Services (FCFS) Q1 Earnings Cheat Sheet
- FirstCash price target raised to $242 from $240 at Canaccord