FirstCash price target raised to $141 from $131 at Stephens

Stephens analyst Vincent Caintic raised the firm’s price target on FirstCash to $141 from $131 and keeps an Overweight rating on the shares. The firm lowered its 2024 EPS “slightly” due to lower first half retail sales driven by lower than expected inventory levels, but it expects inventory to normalize as a function of higher pawn balances and it raised its FY25 adjusted EPS view by 3% to $8.22. Citing high visibility into strong U.S. pawn revenue growth and earnings into 2024, the analyst reiterates FirstCash as a Best Idea.