Jefferson Capital initiated with a Buy at Texas Capital

Texas Capital initiated coverage of Jefferson Capital (JCAP) with a Buy rating and $28 price target which implies 29% total return when including the dividend. Jefferson is a technology enabled buyer and processor of charged-off, insolvency, and active consumer receivables, the analyst tells investors in a research note. The firm says the company has reported more consistent operating results relative to peers. It sees an attractive valuation given Jefferson’s “high margin franchise.”