Cannacord Genuity Affirms ‘Buy’ Rating on EZCORP (EZPW) amid Solid Pawn Trends

EZCORP (NASDAQ:EZPW) is one of the top credit services stocks to buy as the US cuts interest rates. On October 6, Canaccord Genuity reiterated a ‘Buy’ rating on EZCORP (NASDAQ:EZPW) and raised the price target to $27 from $25.

The price target hike comes after the research firm conducted 12 rounds of store checks at the company and FirstCash locations across the country. Following the checks, the research firm remains confident about the company’s business in the pawn sector amid solid trends. Core consumers are increasingly seeking value through the company’s services despite the ongoing financial pressures.

Cannacord Genuity remains impressed by the robust performance of some of the company’s locations, as reflected in detailed feedback from store managers. The company is also benefiting from solid execution and improvements in the business model, such as enhanced inventory management.

EZCORP (NASDAQ:EZPW) provides short-term financial solutions, primarily through pawn loans. It also generates revenue by selling pre-owned and recycled merchandise, which includes items forfeited from pawn loans and goods purchased from customers.

READ NEXT: Billionaire Steve Cohen’s 10 Small-Cap Stock Picks with Huge Upside Potential and Top 10 Stocks to Buy As Gold Rallies.

Disclosure: None. This article is originally published at Insider Monkey.