Broadcom named strategic vendor for Walmart virtualization solutions
FirstCash (NASDAQ:FCFS) Inc stock reached an all-time high of $141.60, marking a significant milestone for the $6.26 billion market cap company. According to InvestingPro data, analysts see further upside potential, with price targets reaching as high as $172. This peak comes amid a period of robust performance, with the stock delivering an impressive 35.12% year-to-date return. The rise in stock value reflects investor confidence and the company’s strong financial health, earning a "GREAT" overall rating from InvestingPro’s comprehensive analysis system. As FirstCash Inc continues to grow, this new high underscores its position in the market and its potential for future gains, supported by 8 additional bullish InvestingPro Tips available to subscribers.
In other recent news, FirstCash Holdings, Inc. has reported second-quarter adjusted earnings that surpassed analyst expectations, with adjusted earnings per share reaching $1.79 against the projected $1.67. The company’s revenue also exceeded forecasts, coming in at $830.6 million compared to the expected $822.6 million. This performance was attributed to increased demand for pawn loans and improved results in its retail point-of-sale payment solutions segment. Additionally, FirstCash Holdings completed its acquisition of H&T Group plc, the largest pawn store operator in the United Kingdom (TADAWUL:4280), for $383 million. This acquisition marks FirstCash’s entry into the European market, expanding its global presence to over 3,300 retail pawn locations and boosting annualized pro forma revenues to nearly $4 billion. Following this acquisition, TD Cowen raised its price target for FirstCash Financial to $172 while maintaining a Buy rating. Texas Capital Securities also initiated coverage on the company with a Buy rating and a price target of $160. These developments reflect FirstCash’s strengthened position in the global pawn industry.
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