Encore Capital price target lowered to $56 from $61 at JMP Securities

JMP Securities lowered the firm’s price target on Encore Capital to $56 from $61 and keeps an Outperform rating on the shares. Encore shares were higher following its quarterly results and another upside performance compared to the firm’s estimates, and the firm revised estimates to reflect better collections costs and a more accurate portrayal of U.S. collections seasonality, the analyst tells investors in a research note.